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Will BTC zoom past $1 million valuation? BitMEX co-founder believes…

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  • BitMEX co-founder Arthur Hayes believes that Bitcoin will be worth $1 million in the next two-three years.
  • According to Hayes, the U.S. Federal Reserve’s new BTFP will help boost crypto prices.

Arthur Hayes, the co-founder and former chief executive of crypto exchange BitMEX, recently appeared on a Bankless podcast hosted by David Hoffman. The crypto veteran shared his take on the recent developments in the banking system of the United States. He gave his two cents on how it would affect inflation and the broader economy. 

Arthur Hayes: Bitcoin can be worth $1 million in 2-3 years

Speaking to Bankless’ Hoffman, Arthur Hayes stated that the U.S. Federal Reserve’s new Bank Term Funding Program (BTFP) is a major factor that will dictate the intensity of inflation and the impact of TradFi policies on crypto.

BTFP is an emergency credit initiative by the Federal Reserve to extend loans to banking and other eligible depository institutions, by accepting U.S. Treasuries, mortgage-backed securities, and more as collateral.

This lending facility was in response to the multiple banking failures over the past few days. Top banking institutions, including JPMorgan Chase, Wells Fargo and Bank of America, have already received more than $210 billion in bailouts through BTFP.

According to Hayes, the BTFP endangers the traditional finance system and everything associated with it. This included fiat currencies, stocks, and bonds. However, the safe havens, which Hayes referred to as “outside money”, will remain unaffected if the Federal Reserve’s money printer takes down the financial system with it.

Outside money like gold, real estate and, more importantly, Bitcoin [BTC], will prevail in such circumstances. 

This is where the $1 million valuation for the flagship cryptocurrency comes in. Arthur Hayes believes that the infinite supply of fiat currency is bound to result in significant appreciation for Bitcoin’s price. However, the million-dollar threshold may not come as soon as former Coinbase CTO Balaji Srinivasan predicted.

Hayes stated that such a valuation is likely to occur in the current cycle, which is expected to last two-three years. Balaji Srinivasan made headlines earlier this week after his bold Bitcoin bet, wherein he predicted a million-dollar valuation for Bitcoin within the next 90 days. 


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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