At the Bitcoin Conference 2025, Hayes pointed out that the $4 trillion in stimulus injected into U.S. financial markets between March 2020 and late 2021 helped drive BTC from roughly $3,800 to $70,000, a 10x gain within 20 months.

“Price is set on the margin,” Hayes emphasized, noting that ETF-driven supply constraints are removing large amounts of BTC from public markets. As more Bitcoin is pulled into long-term holdings and institutional products, the available supply for spot buyers shrinks, amplifying price volatility and upside.

Double the Stimulus, Double the Impact?

Hayes argues that the capital injection projected through 2028 is twice the scale of post-COVID liquidity, creating a potent macro environment for hard assets like Bitcoin. With fewer coins available and significantly more money chasing them, the path to $1 million per BTC becomes “easy,” in his words.

“If we’re putting double the amount of money between now and 2028 than what we did until COVID, then Bitcoin at $1 million is just easy,” Hayes concluded.

His outlook aligns with a broader narrative among Bitcoin bulls who believe that monetary debasement, shrinking exchange supply, and institutional adoption will drive the next major crypto supercycle.

The post Arthur Hayes: Bitcoin Hitting $1 Million Is “Easy” Under Current Conditions appeared first on Coindoo.

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Filed under: Bitcoin - @ May 29, 2025 4:00 am