Former BitMEX CEO Arthur Hayes attributed the rise of Bitcoin (BTC) as the “best performing asset in human history” to global monetary policy, specifically money printing, rather than regulatory changes .
Hayes shared his insights during a September 30 appearance on The Big Whale, where he also explained how inflationary fiscal policy has played a crucial role in Bitcoin’s success.
Despite recent market volatility, Hayes maintains a bullish view on Bitcoin, anticipating long-term price increases fueled by economic instability and political unrest around the world.
Monetary expansion leads to growth
Hayes predicted that U.S. interest rates would fall below 2% in early 2025, driven by political unrest and ongoing debates over the debt ceiling. He suggested that continued monetary expansion would push more capital into cryptocurrencies.
Highlighting the ripple effects of economic instability, Hayes stated:
“As we print more money to solve certain countries’ problems, at some point people will collide.”
Hayes maintained a bullish outlook, predicting continued growth for Bitcoin and Ethereum despite recent market turmoil. He also alluded to projections that place Bitcoin’s long-term price at $586,500.
He reiterated his position that as central banks increase the money supply to address economic challenges, more investment will be driven into Bitcoin as a hedge against inflation and currency devaluation.
Hayes suggests that further monetary expansion, driven by political and economic instability, will continue to increase Bitcoin’s value. According to him, global monetary policy plays a bigger role in Bitcoin’s success than regulatory developments.
Cautious but optimistic outlook
As Hayes continued to advocate for Bitcoin and Ethereum, he urged younger investors to be cautious with leveraged trading and advised them to closely monitor their positions to avoid liquidation during times of high volatility.
In addition to his optimism about Bitcoin and Ethereum, Hayes showed interest in blockchain projects focused on artificial intelligence (AI). He indicated that these innovations could drive the next phase of blockchain growth, highlighting them as areas to watch in the developing market.
Hayes further stated that he expects the current bull market to continue into 2026 or 2027, assuming no major geopolitical disruptions occur. However, he expressed skepticism about regulatory clarity encouraging institutional investment, noting that financial institutions are likely to find ways to circumvent regulations if there is demand.