Bitcoin to $1 million. That's Arthur Hayes' take.

And the crypto influencer and co-founder of BitMEX is bound to draw some nods of approval — he did just call Bitcoin's slide to $74,000 and subsequent rebound.

Crypto traders are closely following the latest predictions from Arthur Hayes, former CEO of BitMEX. In his latest blog post, Hayes focused on the implications of foreign investors pulling out of US Treasury bonds and the role it could play in pushing Bitcoin to $1 million.

Known for his bold predictions, such as calling Bitcoin’s recent slide to $74,000 and subsequent rebound, Hayes' insights often generate discussion in crypto circles.

In a previous analysis, Hayes highlighted how Donald Trump's economic policies and rising global instability could drive investors away from US government debt, traditionally viewed as among the safest securities.

“Foreign capital repatriation and the devaluation of the gargantuan stock of US treasuries will be the two catalysts that will power Bitcoin to $1 million sometime between now and 2028,” he wrote.

“The time is now to make hay while the sun king takes a shine to Bitcoin.”

Trump's support for crypto, along with diminishing trust in the US financial system, is quickly becoming a major trend, according to Hayes.

Over the past century, investors holding US Treasuries have encountered a period of no economic gain, according to Chris Kuiper, VP of research at Fidelity Digital Assets.

Speaking at a Bitcoin conference, Kuiper noted that after considering inflation and taxes, an investor who bought a Treasury bill 100 years ago would have reached the same wealth level only now.

“If you held a Treasury bill for the past 100 years, after inflation and tax, you’d have made no progress,” Kuiper said.

“It’s worse than I thought.”

However, as the world powers shift toward “nation-first” monetary policies, particularly under a Trump-led administration, there's a growing focus on preventing capital flight from Western nations.

To counter this, these countries might introduce capital controls to keep investors' funds within their borders.

“As the time preference of the world’s most powerful people shifts toward the immediate, so too will the optimal asset class,” said Hayes.

“And as this occurs, we will see capital flight from the West as quickly as possible.”

But even with government efforts to restrict capital movement, there's an asset class that will remain largely untouched.

“As long as there is the internet, you will be able to sell fiat for Bitcoin. Through this medium of exchange, you will be able to take your capital to the highest-yielding, liquid asset in the world.”