Earlier, Arthur Hayes stated that the first cryptocurrency could reach $500,000 in 2026, and the crypto market would experience a sustained and prolonged bullish trend.
The businessman published an essay titled "Suavemente" ("Courtesy"), in which he described American politicians as "re-election-minded." According to the entrepreneur, inflation and the state of the US economy are currently important to voters, with the price of fuel being the most obvious indicator.
"Expensive fuel guarantees electoral problems, while cheap fuel guarantees political stability. Hence the US government's pragmatic interest in Venezuelan oil: controlling energy prices curbs inflation and keeps the printing press going. As long as oil is under control, money will be printed. The result is expanded dollar liquidity and Bitcoin's growth," Hayes explained.
The co-founder of BitMEX believes that US President Donald Trump is focusing on changes in stock prices, government bond yields, and oil. As long as stocks rise and oil prices remain low, the printing press will continue to operate, and the first cryptocurrency will benefit from increased liquidity—not so much from the price of energy, but from the expansion of the money supply itself, Hayes continued.
If oil prices remain around $60 per barrel until the end of the year, nothing will stop the US from injecting liquidity into the markets, which will benefit not only Bitcoin but also other digital assets, the crypto enthusiast suggested.