Arthur Hayes, Chief Investment Officer of Maelstrom and co-founder of BitMEX, stuck to his $250,000 year-end price target and $1 million by 2028 for Bitcoin (CRYPTO: BTC) in a recent interview, driven by trillions worth of fiat liquidity injection.
What Happened: In an interview dated June 17, Hayes was asked if he maintains the projection he has made quite frequently in the last few months.
“I think that we get to $250,000 by the end of the year. It’ll be bumpy along the way, obviously, but that’s sort of my end-of-year price target,” the Bitcoin bull responded.
Hayes stated that the increase in credit and fiat liquidity, particularly from U.S. mortgage entities Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC), would eventually find its way into the cryptocurrency market, driving up Bitcoin’s price.