Bitcoin (BTC) has been experiencing a bullish price movement due to Donald Trump’s election victory. Arthur Hayes, co-founder of BitMEX, believes that BTC could reach $1 million if Trump’s administration adopts China’s economic development model. Hayes outlines various adjustments he expects the new administration to make for economic growth, such as tax incentives, subsidies, and cheap financing via the banking system.
This could result in more jobs for Americans and more money in the economy. Hayes also predicts a rapid bank credit expansion and believes that BTC will become a sought-after asset as the U.S. dollar devalues, potentially reaching $1 million. Since Trump’s election, BTC has experienced significant price gains, going from around $68,700 to a peak of $89,800 in a week.
