Arthur Hayes predicts Bitcoin could reach $1M by 2030 but favors Ethereum for short-term gains

BitMEX co-founder Arthur Hayes says Bitcoin could reach $1 million by 2030, but he is currently focusing his investments on Ethereum due to its stronger short-term growth potential.

In a recent interview, Hayes argued that factors like the collapse of the AI bubble, increased money printing, and possible US yield curve control could drive Bitcoin’s price to seven figures within four years. He called the current market a “hate fuck rally,” suggesting Bitcoin’s bottom may have been $58,000.

Hayes picks Ethereum over Hyperliquid

Despite his long-term confidence in Bitcoin, Hayes named Ethereum as his top pick right now. He believes Ethereum, a blockchain platform for decentralized applications, could rise “3x to 5x pretty quickly,” while Hyperliquid—a decentralized trading platform—lacks the same upside potential.

Hayes noted that Ethereum remains below its 2021 peak and is currently undervalued. He also pointed out that it serves as the base layer for decentralized finance (DeFi), a sector built on blockchain for financial services without traditional banks.

BitMEX shutdown and exchange competition

Hayes also commented on the upcoming shutdown of BitMEX, the crypto derivatives exchange he co-founded. He described the decision as a deliberate choice, stating, “We landed the plane on our own terms.” He added that running a crypto exchange is now too costly due to security, technology, and infrastructure demands, making it difficult to compete with major players like Binance or OKX.

Disagreement on Bitcoin’s $1M potential

Not all experts share Hayes’ optimism. Markus Thielen, head of research at 10x Research, recently argued that Bitcoin reaching $1 million by 2030 is “mathematically impossible.” He claimed the required capital inflows to achieve that price are unrealistic based on past trends.

Hayes downplays political influence on crypto

Hayes dismissed the idea that political figures like former US President Donald Trump have a significant impact on crypto prices. He stated, “What Trump says or does is irrelevant,” and advised focusing instead on monetary authorities like the Federal Reserve and Treasury.

Key points

• Arthur Hayes predicts Bitcoin could hit $1 million by 2030 but favors Ethereum for short-term gains.
• He believes Ethereum could rise 3x to 5x due to its role in DeFi and undervalued status.
• BitMEX is shutting down voluntarily, with Hayes citing high operational costs as a key factor.
• Markus Thielen disputes Hayes’ Bitcoin prediction, calling it mathematically unlikely.
• Hayes argues that political figures have little influence on crypto prices compared to monetary policy.

Sources

• Cointelegraph