Bitcoin to $1 million by 2030? Arthur Hayes outlines AI credit risks

Arthur Hayes argues that AI-driven credit expansion and eventual liquidity injections could create a major currency debasement cycle, potentially pushing Bitcoin to $1 million by 2030. He warns that AI companies’ heavy borrowing and uncertain cash flows could trigger credit stress if expected productivity gains fail to materialize. The key implication is that Bitcoin may benefit as a scarce, non-sovereign asset during renewed monetary easing and declining confidence in traditional credit markets, though the projection remains highly speculative.