Arthur Hayes: AI Bubble Collapse Could Send Bitcoin to $1 Million

BTC-2.13%
ETH-0.85%
According to BitMEX co-founder Arthur Hayes in a recent interview, an unwinding of the artificial intelligence bubble could be the catalyst that drives Bitcoin to $1 million. Hayes argues that AI has absorbed speculative capital that would otherwise flow into crypto assets, limiting upside for Bitcoin and Ethereum in the current cycle. He believes a potential AI credit event could exceed the 2008 financial crisis in scale, triggering massive monetary stimulus that would benefit Bitcoin long-term. In the near term, Hayes favors Ethereum over Bitcoin on technical grounds, citing ETH's distance from prior all-time highs versus Bitcoin's recent recovery above previous peaks.
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