Arthur Hayes, co-founder of BitMEX, has sparked discussion with a new article suggesting that former President Donald Trump’s potential economic policies could lead to a dramatic depreciation of the U.S. dollar and propel Bitcoin to the $1 million mark. Hayes posits that if Trump returns to office, he might implement economic strategies akin to China’s model, expanding the money supply to stimulate rapid economic growth.
Hayes theorizes that Trump’s administration would likely pass legislation aimed at reviving domestic manufacturing, incentivizing businesses to shift production back to the United States. This model, he argues, could put additional downward pressure on the dollar by expanding the money supply. According to Hayes, a weaker dollar would enhance the appeal of alternative assets, particularly Bitcoin, as investors look to hedge against inflation and potential currency devaluation.
The former BitMEX CEO has often discussed macroeconomic policy impacts on digital assets, with his latest article reinforcing his long-standing belief in Bitcoin as a hedge against fiat currency depreciation. The prospect of a depreciating dollar, combined with a manufacturing revival and increased money supply, could push Bitcoin toward previously unimaginable price levels.
As the U.S. heads into a period of heightened economic and political change, Hayes’ analysis suggests that Bitcoin’s appeal could only increase, making it a central part of the conversation surrounding the future of alternative assets.
