Bitcoin Will Hit $1 Million By 2028 As Capital Controls Kick In: Top Expert
Arthur Hayes argues that America's economic imbalances stem from reliance on foreign capital and suggests capital controls, rather than tariffs, as a viable solution. He proposes a 2% annual tax on foreign-held US financial assets, which could eliminate federal income taxes for the bottom 90% of Americans. Hayes predicts that if foreign capital exits, the US will resort to quantitative easing, leading to the devaluation of US treasuries and a shift towards Bitcoin as a stateless, censorship-resistant asset. He forecasts that a migration of 10% of foreign-held US portfolio assets into Bitcoin could trigger a significant price increase, potentially reaching $1 million by 2028. Hayes emphasizes that capital controls are becoming inevitable policy and positions Bitcoin as the primary beneficiary of these changes. At the time of writing, Bitcoin was priced at $102,377.
