Ex-chief of BitMEX: sanctions against Russia will push BTC price to $1 million

Arthur Hayes argues that bitcoin and gold will become the main investments for citizens

18.03.2022 - 14:45

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1 min

What’s new? The former CEO of BitMEX, Arthur Hayes, believes that the price of bitcoin will reach $1 million because of the economic sanctions against Russia. He wrote a post on his blog in which he reflects on the consequences for the global economy of the financial restrictions against Russia. Hayes believes that there will be “a financial crisis of epic proportions,” in which BTC will gain an advantage over the US dollar.

Link to Arthur Hayes’s blog

What else does Arthur Hayes write about? The former BitMEX chief also predicts that the price of gold will reach $10 000. He argues that bitcoin and gold will become the main investments for citizens. Hayes attributes this to the fact that in an economic crisis, people have more confidence in assets with a limited supply.

Who else predicts BTC growth? Galaxy Digital CEO Mike Novogratz has predicted a tenfold increase in bitcoin over the next five years. Novogratz believes the price of BTC will reach $500 000.

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