On April 30, BitMEX co-founder Arthur Hayes expressed bullish views on the crypto market at Token2049 conference in Dubai.

"It's time to do everything in full," he said in his keynote, referring to cryptocurrencies and stock markets. To support this view, Hayes makes his often mentioned argument that the United States will need to print more money effectively in a similar form of quantitative easing, which he believes could ultimately push up cryptocurrency prices.

Hayes mainly compares the current market status with the third quarter of 2022. He pointed out that the market conditions were worrying at the time, such as the central bank's interest rate hike. In the field of encryption, it was also just before the FTX crash. However, he said the U.S. intervened through its buyback program and launched $2.5 trillion in funding.

The market is generally worried about the economic situation after Trump pushed for high tariffs on U.S. trading partners. The initial statement caused the market to collapse, but the market eased after 90 days of the tariff suspension. Hayes also said that Federal Reserve Chairman Powell is not a fan of Trump and is unlikely to intervene in the market repair. But he argued that even if the banking system does not directly fund the repair, relative value hedge funds will fund through U.S. Treasury repurchases. He said the hedge funds could buy more bonds, which would increase liquidity.

Hayes believes that by 2028, the price of Bitcoin may rise to $1 million.