BitMEX founder Arthur Hayes, who predicts bitcoin to hit $250,000 this year, says he’d rather wait than invest in bitcoin for now and wait until the US Federal Reserve eases monetary policy.
“If I had $1 to invest right now, would I put it in Bitcoin? No. I would wait,” Hayes said on the Obstacles podcast, released Tuesday on YouTube.
“The longer this conflict goes on, the more likely the Fed will have to print money to support the American war machine,” he said. Hayes said he would start easing monetary policy when the Fed starts buying:
“That’s when I buy bitcoin when central banks start printing money.”
Hayes said that while some argue that “war is good for Bitcoin,” the more accurate view is that “printing money is good for Bitcoin.”
Hayes added that he is not sure if Bitcoin has bottomed out. Bitcoin is trading at $69,926 at press time, down 45% from its October all-time high of $126,000, but Hayes warned that ongoing geopolitical tensions could push the price lower.
“(With) the unfortunate war between the US and Iran, I think there is a situation where the longer it goes on, there could be a massive selloff in stocks and Bitcoin,” he said.
Hayes predicted $250,000 in Bitcoin by 2026
Hayes explained that this could cause Bitcoin to fall below $60,000 and that “could be some kind of big liquidation cascade.” Bitcoin briefly touched the $60,000 level on February 6th before breaking into a mild uptrend.
Hayes is generally bullish on Bitcoin, and at the end of October last year he fulfilled his $250,000 year-end prediction.
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Other analysts are more optimistic about what will happen in the short term. Michael van de Poppe recently pointed to the benefits of Bitcoin behind the “strong rise” in the Nasdaq.
Van de Poppe said: “There is still a lot of evidence for uncertainty, and in principle, I think we will see Bitcoin and Altcoins going higher in the coming period.”
Hayes, meanwhile, said he doesn’t expect bitcoin to be “under 100,000” for many years at that time.
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