Billionaire investor predicts $1M for Bitcoin after calling market bottom

Arthur Hayes, co‑founder of BitMEX and a legendary crypto trader, believes Bitcoin has already passed through its worst correction of the cycle.

Now he's looking at a year‑end target that would put the cryptocurrency firmly back into bull market territory.

"We most likely bottomed at 60,000," Hayes said in a recent interview with Sujal Jethwani, pointing to expanding credit conditions and government spending as key forces supporting risk assets.

The driver: money printing

Hayes's price outlook is not based on technical patterns or on‑chain metrics. It is based on one thing: liquidity.

"The credit impulse will continue to increase as the central banks and the commercial banks continue to print money to help countries around the world finance their war efforts," he explained.

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According to Hayes, growing liquidity continues to create favorable conditions for assets like Bitcoin, even as broader economic risks remain in play.

At the same time, he warned that artificial intelligence could create deflationary pressure across the economy if companies begin replacing large parts of the workforce with automation.

"But I do think that there is a risk of this AI deflation where a lot of people lose their jobs and no longer are spending because AI does knowledge work better, faster, cheaper than the mediocre, you know, 25% of a workforce in the knowledge working profession," Hayes said.

Even with those concerns, he maintained that Bitcoin is unlikely to revisit deeper bear market levels.

"So there's that risk out there, but I think I'm balancing probably bottom at 60,000," he added. 

"And so we might not reach 125,000 any time soon, but I'm not super bearish in terms of ‘oh, we're going to go to 30,000 or some sort of number’ like that."

He acknowledged a potential risk from AI‑driven job displacement, which could reduce consumer spending. 

"There is a risk of this AI deflation where a lot of people lose their jobs... that's the risk. But I think we most likely bottomed at 60,000. So we might not reach 125,000 any time soon, but I'm not super bearish in terms of going to 30,000 or some sort of number like that."

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Beyond 2026: the million‑dollar question

When asked directly where he sees Bitcoin by the end of the year, Hayes gave a straightforward answer.

"End of the year, let's call it $145,000."

A move to that level would push Bitcoin above its current all-time high of around $124,000 and reinforce expectations of another major bull market phase.

Hayes also pointed to a much larger long-term target for Bitcoin, tying it to political and economic conditions heading into the next U.S. election cycle.

"I think that the major event that I see in the future is the 2028 U.S. presidential elections," Hayes said.

According to him, both political parties are likely to rely heavily on economic stimulus and expanding liquidity ahead of the election, creating another wave of support for financial markets.

"He's going to go out there and try to juice the economy with printed money," Hayes said while discussing President Donald Trump and the current administration. 

"He's going to make sure that people get free stuff and paid for with printed money."

Hayes argued that continued fiscal expansion could push cryptocurrencies and other risk assets significantly higher over the coming years.

"And that's going to help cryptos and all sorts of different assets rise in price," he said.

In the prediction round of the interview, Hayes summarized his long-term Bitcoin target in a single phrase when asked for the realistic top of the current cycle: "Million dollars."

He added that 2028 could become a major turning point if governments eventually shift toward austerity measures and reduced spending, which could pressure global risk assets.

Related: Analyst predicts Bitcoin doubling amid Fed's balance sheet expansion