Will Bitcoin Top $1 Million? Arthur Hayes says there’s “another signpost” amid U.S. debt concerns — Universal Units of Fractional Indivisible Beneficial Interests in Grayscale Bitcoin Mini Trust (BTC) (ARCA:BTC)

Bitcoin exchange co-founder Arthur Hayes Suggesting changes in U.S. banking regulations could push Bitcoin Bitcoin/USD The valuation is $1 million.

what happened: Hayes, speaking to his fans on social media platform

The SLR rules were originally adjusted during the COVID-19 pandemic to ease stress in the Treasury market and enhance banks’ ability to provide credit.

Hayes noted that U.S. banks are engaged in a campaign to obtain SLR exemptions, which would allow them to purchase U.S. Treasuries with significant leverage, potentially funding large-scale U.S. government bond issuances.

He described the development as “another signpost on the road to BTC = $1 million.”

Last month, Hayes said he believed Bitcoin could reach $1 million this cycle, driven by global central banks increasing the money supply.

He emphasized that governments around the world may print unprecedented amounts of currency in response to slowing global economic growth, driving Bitcoin’s potential surge.

See Also: Bitcoin, Ethereum, XRP Dogecoin Up, Traders Eyeing $104,000 If This Resistance Breaks

why it’s important: Arthur Hayes’ prediction is in line with other optimistic forecasts in the cryptocurrency space.

Head of Research at Fundstrat, Tom Leerecently suggested that Bitcoin could surpass $250,000 within the next year, citing the impact of the halving cycle and potential government adoption. Lee highlighted Bitcoin’s recent halving event as a key factor that could drive prices higher.

In addition, Ark Investment Kathy Wood It is predicted that the price of Bitcoin may reach $1.5 million by 2030.

Wood attributed this potential surge to loosening regulations and Bitcoin’s increasing differentiation from other assets. She also noted that increasing institutional interest in Bitcoin could further boost its value.

Additionally, the incoming Trump administration is expected to provide a positive environment for the cryptocurrency industry, potentially providing regulatory clarity and a more crypto-friendly SEC. This could create favorable conditions for Bitcoin and other digital assets to flourish.

Price Action: At the time of writing, Bitcoin is trading at $98,154, up 1.84% in the past 24 hours.

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