Arthur Hayes predicts a debt-driven AI infrastructure boom may trigger a credit crisis, fueling Bitcoin to over $1 million.
BitMEX co-founder Arthur Hayes warned that the debt-fueled expansion of AI infrastructure could lead to a 2008-style credit crisis. He suggested the resulting government liquidity response might propel Bitcoin (BTC) past $1 million, though the scenario remains speculative.
Hayes compared the AI boom to the 2008 credit bubble, noting investors have treated data center spending as high-growth tech investment rather than leveraged real estate. He expects lenders to finance excessive construction before a slowdown exposes weaker borrowers, potentially triggering a crisis.
Before any rally, Hayes said BTC could trade between $60,000 and $70,000, with downside risk to $50,000. He also forecast Ether (ETH) reaching $5,000 by year-end, with Maelstrom planning to build a significant position in ETH while selling out-of-the-money put options.