Bitcoin Could Hit $1 Million by 2030 Amid AI Infrastructure Bubble
Arthur Hayes, chief investment officer at Maelstrom, has reaffirmed his prediction that Bitcoin will reach $1 million by 2030. He believes this is possible due to an AI infrastructure bubble bursting, which would lead to a sharp increase in demand for Bitcoin.
Hayes points out that many construction projects related to data centers and computer equipment are highly leveraged, meaning they have taken on significant debt to finance their development. However, these assets can lose value quickly compared to the loans used to fund them, putting both builders and lenders at risk of losses if project revenues do not match expectations.
Hayes predicts that this mismatch in timescales will lead to a decline in AI investment between 2027 and 2028, resulting in reduced funding for some projects and making it more difficult for lenders to recoup their funds. This could prompt government intervention, which Hayes believes will take the form of increased fiat money supply.
He suggests that governments may purchase computing power for other businesses in the AI industry or implement other measures to increase the money supply, leading to more investment in Bitcoin and driving its price up to $1 million.