Surprising Target from the Famous Name Who Says “Money Printing Will Blow Up Bitcoin”: 1 Million Dollars!

The Rise of Bitcoin and the Role of Money Printing

In his interview with Blockmedia, Arthur Hayes stated that Bitcoin could reach $100,000 by the end of the year. “The birth of Bitcoin in 2009 was the result of a major financial crisis,” Hayes said. Today, the same economic problems are growing again. Expanding the money supply will cause Bitcoin to rise. “I believe BTC will reach one million dollars in five years,” he said.

Emphasizing that the tendency to print money in the global economy offers a great opportunity for Bitcoin, Hayes said that major economies such as the USA, the European Union, China, Japan and South Korea are turning to money printing to manage their debts. This process, according to Hayes, will increase the value of scarce assets such as Bitcoin.

Global Economic Challenges Support Bitcoin

Hayes said many governments were unable to cut spending to deal with economic problems. The increasing debt burden forced central banks to print money. “Tax increases could lead to public outcry,” Hayes said. “That’s why governments prefer to print money,” he said.

Supporting Bitcoin’s performance with past examples, Hayes stated that BTC has been the best performing asset since 2009. The fact that cryptocurrencies have increased from almost worthless to a market value of nearly two trillion dollars during this period proves his rightness. Hayes argued that Bitcoin could rise further as the expansion in the money supply continues.

Stating that the world economy is going through difficult processes, Hayes stated that Bitcoin will stand out as a safe haven in this process. Bitcoin’s current price movements also seem to confirm Hayes’ predictions.