Arthur Hayes at Token2049 says Bitcoin will hit $1 million by 2028

  • Arthur Hayes has predicted Bitcoin price will reach $1 million in 2028.
  • Hayes shared the bold forecast during a keynote speech at Token2049 in Dubai.
  • Bitcoin price reached an all-time high of $109k.

Arthur Hayes, the former CEO of BitMEX, has again offered a massive prediction for Bitcoin (BTC), stating during a keynote speech at Token2049 in Dubai that the benchmark cryptocurrency could skyrocket to $1 million by 2028.

The Maelstrom CIO, known for his sharp market insights, told investors that this could be the time to “go long on everything.”

Hayes’ bullish prediction for BTC comes as the top coin’s price hovers near $95k, with buyers eyeing a march to $100k and potentially a new all-time high.

Notably, Bitcoin’s price has swung wildly in recent months amid tariffs uncertainty and broader risk-off sentiment.

What! Bitcoin to $1 million?

Bitcoin reached highs of $109k and analysts predict a run to $150k-$250k by end of 2025.

Above this, bulls, including Michael Saylor, see Bitcoin price going vertical to $1 million and beyond.

In his speech, which largely mirrored his perspectives on expected macroeconomic shifts, Hayes looked at the current global markets and US. fiscal policies.

According to him, the market is set for a flood of liquidity, and with it, Bitcoin’s parabolic surge to new heights.

Hayes grounds his analysis on the monetary policy, with comparisons to the outlook in the third quarter of 2022.

While the implosion of crypto exchange FTX later accelerated the bear market, investor sentiment was largely on the floor amid rate hike fears.

The US government’s pumping of $2.5 trillion into the system via its repo program in that year is a blueprint for what’s likely to come.

The BitMEX co-founder recently highlighted the US Treasury’s Quarterly Refunding Announcement for further context.

Higher borrowing estimates and a lower Treasury General Account (TGA) target, are factors that signal a potential short term flip for Bitcoin.

While tariffs could pose volatility risks, Hayes massive buying of Treasuries is what could boost liquidity indirectly, paving the way for Bitcoin’s ascent to $1 million by 2028.

Recently, Cathie Wood’s Ark Invest shared a $1 million price target for BTC by 2030.

Meanwhile, analysts at CryptoQuant are pointing to Bitcoin hitting new all-time highs in terms of realized capitalization.

Per the analysts, this metric hitting new ATHs has often preceded massive price gains for BTC.

On-chain data shows whales have been aggressive in the past fortnight.

Per crypto analyst Ali Martinez, whales bullish on BTC have accumulated more than 43,100 BTC in the past two weeks. The total value of the accumulated assets stood at nearly $4 billion.

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Crypto news today: Bitcoin tops $95K, stocks rally despite analyst’s ‘blind market’ warning

  • Bitcoin traded above $95,400 Tuesday, showing resilience despite economic concerns.
  • US stocks (S&P 500, Nasdaq +0.55%) also continued their recovery from early April tariff fears.
  • Consumer confidence hit lowest since May 2020; JOLTS job openings missed estimates.

Cryptocurrency markets displayed notable stability on Tuesday, seemingly unfazed by mounting pessimism regarding the economic impact of the Trump administration’s tariff policies.

Bitcoin edged higher, reclaiming ground above $95,000, while traditional stock markets also continued a recovery trend, prompting some analysts to question whether markets are accurately pricing in underlying economic risks.

Markets march higher despite warning signs

Bitcoin (BTC) continued its recent positive momentum, gaining about 1% over the preceding 24 hours to trade near $95,400.

This move brought the key $96,000 level – last seen in late February – within striking distance.

The broader crypto market showed similar resilience, with the CoinDesk 20 index advancing 1.1%.

Bitcoin Cash (BCH) stood out with a significant 6.3% surge.

Crypto-related equities also participated, albeit modestly, with Coinbase (COIN) up 0.9% and MicroStrategy (MSTR) adding 3.3%, while Janover (JNVR) continued its strong run (+16%) linked to its Solana accumulation strategy.

This relative calm in digital assets mirrored strength in traditional equities.

Both the S&P 500 and the Nasdaq composite posted gains of 0.55%, extending the recovery from the tariff-induced panic seen earlier in April.

Economic data paints sobering picture

However, this market buoyancy unfolded against a backdrop of increasingly concerning economic indicators, suggesting a potential slowdown possibly linked to the White House’s tariff strategies.

The Conference Board reported that US consumer confidence plummeted to its lowest level since May 2020, with the forward-looking consumer outlook component hitting its weakest point since 2011.

Simultaneously, the latest Job Openings and Labor Turnover Survey (JOLTS) indicated a cooling labor market, with job openings falling to 7.19 million in March, significantly below the expected 7.5 million.

Adding to the complex policy environment, Secretary of Commerce Howard Lutnick mentioned Tuesday that a trade deal had been reached with an unspecified country, though he noted it still required ratification, offering little immediate clarity on the broader tariff situation.

Analyst warns of market ‘blindness’ to fundamental risks

This apparent disconnect between market performance and weakening economic data has raised red flags among some observers.

Jeff Park, head of Alpha Strategies at digital asset investment firm Bitwise, expressed strong concern about the market’s perspective.

“Hard to fathom how blind the market really is,” Park posted on the social media platform X (formerly Twitter).

He argued that the market’s intense focus on potential Federal Reserve interest rate cuts misses a larger, more fundamental risk.

“A Fed cut means nothing if US creditworthiness is permanently impaired by the global community as resulted by dollar weaponization,” Park elaborated, linking the potential damage to Trump administration policies that leverage the dollar’s global role.

He suggested that speculation about whether the Fed might be forced to cut rates to offset tariff impacts is misplaced.

“That’s the mispricing we are talking about here,” he continued.

The myopic focus on whether [we] are getting a fed cut in May/June is completely irrelevant if the notion of the risk-free as we know it is fundamentally challenged forever, which means cost of capital globally is going higher.

Park’s comments highlight a deeper concern: that markets might be rallying on short-term hopes (like potential rate cuts) while ignoring potentially severe, longer-term structural damage to the US financial standing and the global cost of capital caused by ongoing policy uncertainty and aggressive trade tactics.

While Bitcoin holds firm near recent highs, the debate continues over whether current market strength reflects genuine resilience or a dangerous disregard for underlying economic headwinds.

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SEC delays decision on Franklin Templeton’s spot XRP ETF

  • The US SEC has delayed its decision to approve or disapprove Franklin Templeton’s application for a spot XRP ETF.
  • SEC has extended the period of review for the XRP ETF to June 17, 2025.
  • ETF expert James Seyffart says most of the final verdicts for most ETF proposals are made in October or later.

The US Securities and Exchange Commission has postponed its decision on Franklin Templeton’s proposed spot XRP exchange-traded fund.

SEC’s announcement on April 29, 2025, states that the regulator will now have until June 17, 2025.

This is the date by which it will have to make a decision on whether to approve or reject the XRP spot ETF.

A fresh delay allows the agency more time to evaluate the Franklin Templeton proposal.

SEC postpones decision on Franklin Templeton’s XRP ETF

According to the SEC’s filing, the agency requires a longer period to assess Franklin Templeton’s application, which was initially filed on March 19, 2025.

The proposal aims to list and trade shares of the Franklin XRP Fund under NYSE Arca Rule 8.201-E.

SEC noted that the extended review period, now set at 45 days, may be further prolonged up to 240 days from the initial publication in the Federal Register, potentially delaying a final decision until mid-October 2025.

Per the SEC’s filing, the delay is within the law and offers it time to thoroughly examine the proposed rule change and its alignment with self-regulatory organization requirements.

Not entirely new, the move aligns with a pattern of cautious deliberation the SEC has adopted regarding crypto-related financial products, having taken years to approve spot Bitcoin ETFs and Ether spot ETFs.

ETF analyst on what’s next?

Despite delays, investor demand for such crypto ETFs continues to surge.

Over the past few months, issuers have filed over 70 proposals seeking a green light to list exchange-traded funds on top altcoins. XRP, Solana, Litecoin, Hedera, and Dogecoin are among the most highly anticipated.

Commenting on the delay, Bloomberg ETF analyst James Seyffart said he expects more of these SEC delays this week and in the coming days.

Notably, the regulator has also deferred its rulings on Ethereum staking and Dogecoin ETFs.

Seyffart anticipates that final deadlines for most of the ETF filings will be in October 2025 or later.

“I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later,” Seyffart noted.

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