Can Bitcoin Hit USD$1m? Some are saying it will
It's safe to say that Bitcoin has been one of the most talked about things over the past decade. It has easy become a household name and it is also most likely the digital asset that first introduces many to what a bockchain is.
There is also no shortage of people guestimating Bitcoin's future price and value, from some calling it a scam and collapsing. To others pushing high numbers. A lot of the noise is traditional Gold Rush Era techniques rather than actual knowledge. What we mean by that is that in the gold rush era, the people who made the most money were the ones selling the tools to mine as well as pushing the news.
People bought news papers to keep on top of all the latest developments on where gold was being found. So in the current climate of online blogging and news, it pays to stay on top of the trending Bitcoin news and developments.
Arthur Hayes The Original King Of Crypto
Arthur Hayes who is well known as the original king of Crypto due to he's rubbles to riches story which has captivated many and is quite the interesting read and well worth the time to find out more about he's journey to success.
For those who aren't aware, it is reported that Arthur who was from the rust belt of society and not the traditional crypto player whom all came from rich middle and upper class societies and had investors throwing money at them. Arthur built the crypto exchange BitMex one of todays leading crypto Centralized Exchange (CEX) while sleeping on a friends couch.
He's long been referenced and a sought after person for advice on the decentralised world and he is back with another prediction!
Bitcoin Price Prediction
Arthur Hayes recent prediction see's Bitcoin hitting USD 1 Million and the reason behind this might surprise you as it bridges traditional finance with digital currencies showing how the two are now strongly interconnected.
In a strikingly bullish view, Arthur Hayes — co-founder of BitMEX and CIO at Maelstrom — has laid out a scenario in which Bitcoin (BTC) surges to US $1 million on the back of fiscal and monetary easing in Japan. The kicker that led to this view? the recent announcement by Japanese Prime Minister Sanae Takaichi that a large stimulus package reportedly exceeding US 92 billion is in development to combat inflation and support households and businesses.
Arthur believes this will force the country toward quantitative easing (QE), weakening the yen and increasing money supply while also bolstering risk assets including Bitcoin.
an interesting point of view, what are your thoughts on it? let us know in the comments section below.
image sources provided supplemented by canva pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.