Veteran trader says one trend could send Bitcoin to $1 million
Key takeaways
- In an interview, the Bit MEX co-founder, said he remains "very long Bitcoin as always," though he has parked some capital in Treasury bills while he waits for a more asymmetric setup.
- Related: Mark Zuckerberg eyes another billion-dollar market
- The bigger argument Hayes is making isn't about sentiment, it's about credit structure.
Veteran trader says one trend could send Bitcoin to $1 million Veteran trader says one trend could send Bitcoin to $1 million · The Street Bibhu Pattnaik Wed, June 24, 2026 at 11:16 PM GMT+7 3 min read BTC-USD ETH-USD Arthur Hayes is making a contrarian case: the next major Bitcoin rally may not come from crypto-specific catalysts at all, but from the unwinding of an entirely different bubble, artificial intelligence.
In an interview, the Bit MEX co-founder, said he remains "very long Bitcoin as always," though he has parked some capital in Treasury bills while he waits for a more asymmetric setup. His reasoning centers on where speculative money has actually gone this cycle.
"AI is the fastest horse and has proven itself to be the fastest horse," Hayes said, arguing that investors looking for a hedge against currency debasement have chosen AI stocks over Bitcoin and Ethereum, limiting upside for both this cycle.