Bitcoin to a million dollars by 2030?

Every now and then a new prediction pops up Bitcoin will reach $1 million.

Arthur Hayes expects Bitcoin to reach $1 million

Bitcoin to the Moon
According to Arthur Hayes, Former CEO of BitMEX, Bitcoin Could Reach $1,000,000 by 2030

This time it’s your turnFormer CEO of BitMEX, Arthur Hayeswhich launched a series of predictions, including an achievement prediction Share $1,000,000 for BTC by 2030.

do it with Job On his blog titled “The Cycle of Destiny”.

This cycle, according to Hayes, will not only see the price of Bitcoin reach 1 million, But also gold at $20,000.

Gold is currently under $2000 an ounce, although in recent months it has also exceeded that number for a very short time. So that means a Ten times the estimate for the current level.

It should be noted that it took twenty years to go from $200 to $2000, and I had to go through the financial market crisis due to the dotcom bubble, so imagine that in less than a decade it could double by ten again. Seems a bit risky.

On the other hand, the price of Bitcoin is around 40 thousand dollars, even if it reached almost 70 thousand dollars in November of last year.

To reach a million dollars It should double about 25 times from current levels. To reach $40,000 from $1,600, up 25 times, it took about four years, so at least in theory This prediction seems less risky than that of gold.

Fictional assumptions of the former CEO of BitMEX

But the post contains a third, perhaps more serious prediction: EU solution, Always at the end of the contract.

The European Union has existed for more than 60 years now, although it originally had another form, and it is still expanding.

However, Hayes assumes the collapse of the European Central Bank and the euro, with the consequent disintegration of the European Union.

Many of his arguments are based on the growing role and power of China, which he speculates may return to allowing bitcoin mining.

In fact, it is speculated that China could sell dollars and euros to buy hydrocarbons to generate electricity and Store the surplus in the form of Bitcoin.

In fact, Bitcoin does not store electricity, since the electricity used to mine it cannot be reclaimed from mined BTCs, but allows, at most, to monetize the excess energy. It must be said that the reasoning to which Hayes is referring is of a financial nature and not rational.

The former BitMEX CEO himself warns that his experiment is just a thought experiment, but notes that if it is correct, the idea could spread, with many other countries that could do the same.

As for the realization of the million dollars, the main driver will be the “death ring” of Western financial policies, mainly due to the yield curve control (YCC) and the desperate attempt to avoid bankruptcy of the states.

He says YCC is the endgame, with the dollar depreciating against gold and bitcoin.

Hayes says:

“There is no other politically palatable option, and actions against Russia only ensure that the RCC arrives sooner than you think.”

To tell the truth at this moment, the actions of the United States of America against Russia a few months ago occurred at the same time as the significant appreciation of the US dollar, especially against other currencies, With the dollar index rising from 95 to nearly 104 points, or at the highest level since the beginning of 2017.

Hayes A somewhat turbulent story Behind them has a somewhat borderline reputation. For example, many believe that his actions over the years have been excessively unscrupulous and there are few who do not consider him currently A particularly reliable source of information.

Although it is not currently possible to judge whether these predictions are credible or not, the only thing that is certain is that they look really risky.

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