The post Arthur Hayes: “I still believe Bitcoin will hit $1 million, but I’m shorting on the way up” appeared on BitcoinEthereumNews.com.

Legendary crypto trader Arthur Hayes said on Thursday that he still believes Bitcoin will hit $1 million, but he’s not riding that train with his eyes closed. In a new essay titled Fatty Fatty Boom Boom, Arthur explained why he’s taking short positions even while holding onto his long-term conviction. He used obesity and the broken American economy as two sides of the same coin, blaming both on bloated systems that serve corporate profit over public health—or financial stability. According to Arthur’s essay, the US used to be lean. Not just physically, but economically. But now, he says both the country’s waistline and its balance sheet are out of control. He compared the rise of “fat-positive” narratives to the Federal Reserve’s addiction to money printing. The food industry, Arthur said, sold Americans processed garbage, and Big Pharma came along with drugs to treat the symptoms, not the cause. The economy, in his words, followed the same pattern: constant credit expansion without correction. Arthur Hayes says capital controls are coming Arthur said the US trade imbalance can’t be fixed with tariffs because voters won’t put up with higher prices or empty shelves. He pointed to Trump’s 90-day tariff rollback with China as proof that the hard route won’t work politically. Instead, the solution now favored by the White House is to tax foreign ownership of US financial assets. That’s where capital controls come in. Arthur laid it out simply: if foreigners want to buy American stocks, bonds, or real estate, they’ll have to pay for it. He gave a 2% yearly tax as an example. With $33 trillion in foreign portfolio assets held in the US, that tax could replace income taxes for most Americans. “Trump could eliminate income taxes for the vast majority of voters,” Arthur wrote, and that kind…

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Filed under: News - @ May 15, 2025 3:22 am