Crypto tycoon Arthur Hayes, known for his bold Bitcoin forecasts, has previously criticized the U.S. Federal Reserve. However, his latest target is the Eurozone.
In an extensive blog entry titled “Bastille Day,” BitMEX’s co-founder and former CEO suggested that French citizens shifting their funds might prompt the European Central Bank to engage in massive money printing, ultimately favoring Bitcoin.
Hayes contends that France, as the Eurozone’s second-largest economy with substantial debt levels, will compel its central bank to print more money to prevent a euro collapse.
“The ECB will heroically print currency to preserve its existence,” Hayes remarked, adding bluntly that “France is doomed.”
He elaborated: “It will be a triumphant moment for believers as euros join forces with dollars, yuan, yen—boosting Bitcoin’s value.”
“Whether the ECB hits ‘print’ now or later when French capital controls threaten euro stability doesn’t matter; trillions of euros are destined for creation. Bitcoin remains indifferent and continues its unstoppable ascent against what it views as worthless euros.”
Previously asserting that American monetary policy would bolster Bitcoin’s success due to rampant money printing by the Federal Reserve earlier this year—Hayes predicted a $1 million valuation per coin by 2028.
Lately trading at $120,515 per unit—a 7% increase over seven days according to CoinGecko—the leading cryptocurrency surged amid governmental shutdowns as investors sought refuge in BTC.
The crypto entrepreneur also projected Ethereum, ranking second among digital currencies, could reach $10,000 by late 2025 with current values standing at $4,492—a near-10% weekly rise.
Crypto analysts note heightened interest from investors during times of instability and currency devaluation toward assets like Bitcoin.