Hayes: U.S. Money Printing Will Push Bitcoin to $500,000

cryptonews.ruPublished on 2026-09-08Last updated on 2026-09-08

Abstract

Bitcoin could surge to between $250,000 and $500,000 as a result of an increasing money supply in the United States, according to investor and analyst Arthur Hayes. He stated that the technical mechanisms which effectively act as money printing are already active. In this environment, assets like Bitcoin and gold are appreciating. Hayes described the current phase as one of "capital wasting," where new money is funneled into extending credit and supporting existing investments. He predicted Bitcoin could surpass its all-time high before the end of the year, though noted political constraints ahead of the U.S. midterm elections. Separately, Hayes highlighted Ethereum as the primary asset for investors seeking high risk outside of Bitcoin but wanting to avoid catastrophic protocol failures. He pointed out that Ethereum has underperformed among major crypto assets and hasn't yet breached its 2021 high of $5,000, creating an attractive risk-reward profile. Hayes added that Ethereum is his team's largest position ahead of an anticipated liquidity rally.

Bitcoin could rise to $250,000-$500,000 against the backdrop of an increase in the U.S. money supply, according to well-known investor and analyst Arthur Hayes. He stated that the relevant technical mechanisms are already active.

Hayes noted that the increase in the money supply occurs through technical mechanisms which, in his opinion, effectively function as money printing.

According to Hayes, in this context, Bitcoin, gold, and other similar assets are becoming more expensive. He characterized the current stage as a phase of 'capital wasting,' where new money is directed towards loans for their extension and to support investments already made.

Will Bitcoin Update Its All-Time High?

Hayes stated that Bitcoin could break its all-time high before the end of the year. At the same time, he drew attention to political limitations ahead of the U.S. midterm elections.

According to him, one of the main issues for American voters is the affordability of life. Therefore, the administration of Donald Trump will have to explain stimulus measures without directly acknowledging the increase in the money supply.

He added that Bitcoin's rise to $500,000 directly before the elections is unlikely to help Trump politically.

Hayes Named Ethereum the Main Asset After Bitcoin

Separately, Hayes shared his expectations regarding Ethereum. According to him, investors who want to take on maximum risk outside of Bitcoin but do not want to suffer a sharp decline due to a protocol bug could consider Ethereum.

"If you want to take on maximum risk outside of Bitcoin and at the same time not be afraid that your stuff will collapse by 75% overnight due to some bug in the protocol — that's Ethereum," he said.

Hayes noted that Ethereum showed weaker performance among major crypto assets during the previous cycle and has still not surpassed its 2021 all-time high of $5,000.

In his opinion, this creates an attractive risk-reward ratio. Hayes added that Ethereum is his team's largest position ahead of the expected liquidity rally.

Recall that earlier Hayes released an essay titled Atención. The Incrypted team prepared a summary of the text:

end-content

Related Questions

QWhat is Arthur Hayes's main prediction for Bitcoin's price and why?

AArthur Hayes predicts that Bitcoin could reach $250,000 to $500,000 due to the increase in the US money supply, which he describes as 'money printing' through active technical mechanisms.

QWhat does Hayes call the current economic phase and describe its characteristics?

AHayes characterizes the current phase as a 'capital waste' phase, where new money is used for credit extensions and to prop up existing investments.

QWhat is Hayes's view on Bitcoin breaking its all-time high in the current US political context?

AHayes believes Bitcoin could break its all-time high before the end of the year, but notes that a surge to $500,000 right before the US midterm elections would be politically problematic for the Trump administration, which needs to explain stimulus measures without directly acknowledging money printing.

QWhy does Hayes consider Ethereum the main asset after Bitcoin for risk-seeking investors?

AHayes states that for investors wanting maximum risk outside of Bitcoin but who fear a catastrophic drop due to a protocol bug, Ethereum is the choice, as it offers an attractive risk/reward profile without that specific high technical failure risk.

QWhat is Hayes's position regarding Ethereum in his own portfolio ahead of an expected liquidity rally?

AHayes reveals that Ethereum is the largest position held by his team in anticipation of the expected liquidity rally.

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