Bitcoin to $1 Million by 2028? Arthur Hayes Says It's Inevitable.
A System Built On Sand
Hayes sees Bitcoin's price action as a structural response to the erosion of financial sovereignty. When the U.S. decoupled the dollar from gold in 1971, it created a global financial system reliant on credit issuance, massive debt accumulation, and central bank intervention.
'The people who benefited the most are those who issue credit – commercial banks,' Hayes explains. 'And anyone who challenges their dominance tends to fall afoul of regulators.'
From his perspective, Bitcoin's rise is not a random fluke, it's a very clear reaction. A decentralized, scarce, programmable asset stands in stark contrast to the highly centralized, inflationary fiat model.
The Trump Factor And The Strategic Reserve Illusion
Hayes is less impressed by politicians claiming to embrace Bitcoin, especially when it is there to serve a populist narrative. Take President Trump's Executive order on the Bitcoin Strategic Reserve, while the move grabbed headlines and delighted many in the Bitcoin and crypto community, Hayes remains sceptical.
'Governments buy assets for political reasons and sell them for political reasons,' he warns. 'Why tether your financial future to the whim of politics?'
He doesn't see this as actual adoption, but only as a tactical appeal to voters disillusioned by deindustrialization, wage stagnation, and the rise of big finance. Still, the political interest in Bitcoin, no matter how superficial, signals a shift in how governments perceive the role of digital assets in a post-dollar world.
Stablecoins Will Lead, But Bitcoin Will Reclaim The Narrative
In the short term, Hayes argues that stablecoins, particularly USD-backed ones like USDT, will see greater real-world adoption, especially in regions with limited banking access.
'People want dollars, not volatility,' he notes, citing the Middle East, as a major growth market for stablecoins. Afterall, the Arab region's population is only approximately 40% banked according to the ESCWA Annual SDG Review 2025.
But that doesn't mean Bitcoin loses its edge in the stablecoin game. Quite the opposite. Hayes predicts Bitcoin dominance will rise to 70% just before we will see unprecedented price action to $1 million.
Why $1 Million Bitcoin Isn't As Wild As It Sounds
At the heart of Hayes' forecast is one simple principle: the fiat system must inflate or collapse. Either path fuels Bitcoin's rise.
'The amount of money that will need to be printed just to maintain the current economic structure is staggering,' he explains. 'That's what's going to propel Bitcoin.'
Whether or not governments buy Bitcoin is secondary. Their policies of debt expansion, currency debasement, and geopolitical fragmentation will drive more capital into decentralized stores of value.
In other words, Bitcoin doesn't need the Government's buy-in or permission to win. We just let governments do their thing, and this leads to Bitcoin winning.
Beyond Price: A New Financial Era
Hayes' prediction of $1 million isn't rooted in hype. It's based on deep scepticism about the longevity of the current financial order and belief that a decentralized alternative is not only possible but necessary.
'This isn't just about crypto,' Hayes concludes. 'It's about dismantling a system that no longer works and building something better.'
Whether Bitcoin reaches $1 million by 2028 remains to be seen. But the conditions that could make it happen are already here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Insider
2 hours ago
- Gulf Insider
What's Standing In The Way Of A Grand Compromise On Ukraine?
Kremlin Confirms Trump-Putin Meeting 'In Coming Days', Possibly In UAEPutin and Trump publicly confirmed that they found a lot of common ground during their three-hour-long talks in Anchorage, but no grand compromise on Ukraine was reached due to 'a couple of big [points]…One is probably the most significant' that remain unresolved according to Trump. Putin's reaffirmation of the need to 'eliminate the primary causes of the conflict' and Trump mentioning how Zelensky will 'have to agree' with what the US achieved so far strongly hints at what these could be. As a reminder, Russia's official goals in the conflict are to: demilitarize Ukraine; denazify it; restore the country's constitutional neutrality; and obtain recognition of the on-the-ground reality. Putin suggested that he's become more flexible as of late, which was likely responsible at least in part for why he and Trump just met as well as for Trump's positive assessment of their talks, so he could hypothetically compromise on one, some, or all of these goals. This places the onus on Zelensky to reciprocate. In the order that Putin's goals were mentioned, Trump therefore likely expects Zelensky to either agree to: curtail the size of his armed forces after the conflict ends; get the Rada to criminalize the glorification of WWII-era Ukrainian Nazi collaborators and/or rescind anti-Russian legislation; have them remove the 2019 constitutional amendment about seeking NATO membership; and/or amend the constitution to more easily cede land without first having to hold a successful All-Ukrainian referendum on this issue. Trump also said that he'll 'call up NATO', likely referring to the leaders of key NATO countries, who he seemingly expects to facilitate a grand compromise by correspondingly: agreeing not to deploy troops to Ukraine and/or agreeing to curtail arms exports to it; 'creatively encouraging' the Rada to pass the aforesaid socio-political, neutrality, and/or territorial cession reforms (e.g. threatening to curtail aid if they don't); and/or explicitly declaring that they'll no longer approve Ukraine's NATO membership bid. They might not do so willing, however, so it's possible that Trump could: greatly reduce or even abandon the scale of mid-July's scheme to sell new US arms to NATO for passing along to Ukraine; threaten to cut off all military ties with any country that deploys troops to Ukraine; threaten to impose more tariffs on countries that don't 'creatively encourage' the Rada to pass the aforesaid reforms; and/or threaten to reduce the US' role in NATO if members don't explicitly declare their opposition to Ukraine joining. If Trump and his NATO subordinates convince Zelensky to agree to some of these compromises, then Putin might agree to: Ukraine retaining a larger military than what was agreed to in spring 2022's draft peace treaty; not pursue full-fledged denazification (e.g. tacitly accepting that traces of this ideology will remain in Ukrainian society); not object to Ukraine's limited bilateral cooperation with NATO members; and/or indefinitely freeze Russia's territorial claims (i.e. still retain but not actively pursue them). This pathway towards a grand compromise could be derailed by: a Ukrainian false-flag provocation against civilians that turns Trump against Russia; a false-flag provocation elsewhere like in the Baltic Sea to the same end; and/or any serious expansion of Russia's ground campaign beyond the disputed regions. Trump might not be misled by any false flags while Putin might limit the scope of the special operation as a 'goodwill gesture', however, so peace is possible if Zelensky finally agrees to compromise.
Daily Tribune
16 hours ago
- Daily Tribune
Bahrain's King Praises Positive Outcomes of U.S.-Russia Summit
His Majesty King Hamad bin Isa Al Khalifa sent a message to U.S. President Donald Trump, congratulating him on the success of the historic summit held with Russian President Vladimir Putin in Alaska. In his letter, His Majesty extended warm greetings and best wishes to President Trump for continued health and happiness, and to the United States for lasting progress and prosperity. King Hamad praised the positive outcome of the summit, which addressed the crisis in Ukraine and achieved meaningful steps toward ending the conflict and pursuing sustainable peace in Europe and across the world. He also commended President Trump's statement describing the day as a 'historic moment,' noting that the summit reflected a turning point in efforts to build global peace. The King reaffirmed Bahrain's pride in its close strategic partnership and long-standing friendship with the United States, stressing the Kingdom's commitment to further strengthening these ties for the benefit of both nations.
Daily Tribune
16 hours ago
- Daily Tribune
US Halts Visitor Visas for Gazans Amid Political Backlash
The United States has temporarily stopped issuing visitor visas to people from Gaza while it reviews the process that recently allowed a small number of Palestinians to enter the country on medical and humanitarian grounds. The State Department announced the suspension on Saturday, saying it will carry out 'a full and thorough review' of how these visas were granted in recent days. The move came just one day after a wave of criticism erupted on social media, led by far-right activist and Trump ally Laura Loomer. She claimed on X (formerly Twitter) that Palestinians who said they were refugees from Gaza had arrived in the US through airports in San Francisco and Houston. Loomer questioned whether admitting them was in line with the 'America First' policy and later claimed more Palestinians had entered through Missouri. She also said some US lawmakers had privately expressed anger to her. Several Republican politicians quickly echoed those concerns. Congressman Chip Roy of Texas said he would seek answers about the arrivals, while Florida lawmaker Randy Fine described the situation as a potential 'national security risk.' The State Department has not confirmed the exact number of visas granted but stressed that the review is aimed at ensuring all procedures are properly followed before any further approvals.
