Hayes Predicts $1 Million Bitcoin Price Driven by AI Collapse

BitMEX co-founder Arthur Hayes has made a bold prediction that Bitcoin's price could surge to $1 million per coin by 2027. According to Hayes, this will be driven not by a crypto-native catalyst but by the collapse of what he calls the largest credit bubble in modern history - the AI infrastructure buildout.

Hayes argues that the AI investment boom resembles a real estate buildout rather than a traditional technology story. He highlights that GPU loans for AI hardware are amortized over five to six years, while GPUs become obsolete in about two years.

Hayes points out that if cheaper Chinese AI models commoditize inference, the financial assumptions supporting those GPU loans could collapse entirely, leading to a disastrous market outcome.