Hayes News & Analysis

Bitcoin Price Target of $1 Million Amid $1.5 Trillion Debt Crisis

Arthur Hayes, co-founder of BitMEX, estimated that approximately $1.5 trillion in AI-related debt has absorbed nearly all U.S. M2 money supply expansion since late 2022, limiting liquidity for Bitcoin. He warned this could lead to a credit crisis larger than the 2008 subprime collapse, with Bitcoin projected to reach $1 million per coin. The Bank for International Settlements noted that AI-related private credit has surged to over $200 billion, constituting around 8% of total private credit. This situation indicates a potential for significant market impacts as capital misallocation unfolds and policy responses emerge, which could affect Bitcoin's positioning in investment portfolios.