Quote from: Bitcoinmoon12 on Today at 04:10:32 AM

Arthur Hayes, the former CEO of BitMEX, recently spoke to David Hoffman on the Bankless Podcast and shared his thoughts on Bitcoin’s future.

He explained that the liquidity for the Bitcoin Treasury Float Plan (BFTP) remains locked until rates drop, at which point Bitcoin will rise significantly. However, he dismissed the idea that Bitcoin will hit $1 million in 90 days.

Hayes clarified that he believes Bitcoin can reach $1 million during this cycle, which he expects to be within the next two to three years. He discussed how BTC could achieve this milestone and began by distinguishing between inside money and outside money.

Inside money, according to Hayes, is a liability on someone else’s balance sheet, such as dollars, yen, euro, yuan, stocks, and bonds. Crucially, what distinguishes it is that “you can’t utilize these things without interfacing with the fiat financial system and the people that are deputized to act in it,” he said.

On the other hand, outside money is not a liability on someone’s balance sheet, such as gold, real estate, and Bitcoin. Outside money is advantageous over inside money because the banking system does not affect it.

Hayes explained that outside money is desirable when the Federal Reserve is propping up the entire banking system, adding that banks holding BFTP-qualifying assets cannot go bust. Under this setup, the money supply expands infinitely at some point, resulting in price appreciation for outside money assets such as Bitcoin.

While Hayes dismissed the idea of Bitcoin hitting $1 million in 90 days, he believes that Bitcoin can achieve this milestone in the next two to three years. This prediction is consistent with the view of many cryptocurrency experts who believe that Bitcoin’s price will continue to rise in the long term.

Hayes’ views on Bitcoin’s future are essential, given his background in the cryptocurrency industry. As the former CEO of BitMEX, a leading cryptocurrency derivatives exchange, Hayes has extensive knowledge of the cryptocurrency market and its workings.

In conclusion, Arthur Hayes believes that Bitcoin can reach $1 million during this cycle, but not in 90 days. He explained that Bitcoin’s outside money status is advantageous over inside money and will result in price appreciation in the long term. While his prediction is just one among many, it is essential to consider his insights as a former CEO of a major cryptocurrency exchange.
Source: https://azcoinnews.com/bitmex-founder-arthur-hayes-predicts-bitcoin-to-reach-1-million-within-2-3-years-dismisses-90-day-timeline.html

Thank you for the information, I was greatly helped thanks to your writing, because I also believe and see the development of bitcoint that it will be difficult to reach that value within 90 days, it takes more time to reach its highest value, and bitcoint will continue to increase in value from time to time with the economic situation and market demand continues to increase, that's clear.