Mike Smith
7 days ago
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Co-founder of the Maelstrom fund and former CEO of BitMEX Arthur Hayes again attracted attention with a loud statement: Bitcoin, in his opinion, is capable of reaching $1 million by 2028. He based this forecast on two major macroeconomic shifts that could change the rules of the game in the global financial market: a massive return of capital to the country of origin and a fall in the value of US Treasuries, which will undermine confidence in them as a safe haven.
Hayes admitted that in January he reduced his exposure to the market, increasing the share of fiat assets. However, by the end of March, his strategy changed - he began to increase his presence in the crypto sector again, and in April, when traditional markets were in turmoil, he completely switched to long positions. Now he is focused on identifying cryptocurrencies that can demonstrate higher returns compared to Bitcoin in the next growth wave.
His focus is not on hyped meme tokens, but on assets that are backed by real users and generate income. He emphasizes the importance of projects that share revenue with holders. Hayes cites Pendle (PENDLE) and Ether.fi (ETHFI), which Maelstrom acquired at local lows, as examples of such solutions.
Pendle, Hayes argues, has the potential to become a leader in the fixed income segment of the crypto space, an area that remains undervalued and underdeveloped. As for Ether.fi, he compares it to American Express, which is aimed at wealthy investors who prefer long-term strategies. It is these kinds of tokens that Hayes believes will be able to gain an advantage in the future, where market speculation gives way to sustainable business models.
At the same time, he remains a realist: short-term corrections and temporary strategic shorts are possible, especially in the context of expected instability associated with growing financial experiments and potential restrictions on capital flows. He emphasizes that in the near future, it is possible that money emission will increase, which will further fuel interest in cryptocurrencies as an alternative to the traditional financial system. Hayes also noted that political uncertainty and internal disagreements at the highest level of government in the United States could become an additional trigger for market fluctuations. This makes his strategy flexible and focused on rapid changes. Now, according to him, the key to success is to recognize promising protocols in time and distribute capital in such a way as to be ready for any configuration of the future.
