Arthur Hayes, Bitmex co-founder and chief investment officer of Maelstrom, laid out one of the most ambitious bitcoin forecasts in the industry during an interview with Fortune contributor Anna Tutova at Token2049 in Dubai. Despite past regulatory battles and legal consequences, Hayes has reemerged as one of the digital asset sector’s most vocal and influential bulls. He is now betting big that bitcoin will not only dominate the crypto market in the near term but also reach historic highs over the next four years.

In his characteristically direct style, Hayes offered a series of bold price targets for bitcoin, predicting a major surge in dominance and price leadership in the coming months. Reiterating his $250K prediction, he said:

I think bitcoin dominance continues to go up. I think bitcoin in this next little run could go close to $200,000. And then altcoin season comes around and we’ll see some interesting things. And by the end of the year bitcoin price target is about $250,000.

Hayes sees the current macro environment, particularly expanding U.S. fiscal deficits and stealth liquidity injections through the Treasury, as a powerful force pushing bitcoin higher. He believes that these financial conditions are supportive of a significant move upward in the crypto markets, led by bitcoin.

Looking further ahead, Hayes laid out a staggering long-term vision for bitcoin’s value. Reiterating his $1 million BTC prediction amid U.S. treasuries’ collapse and capital flight, Hayes opined:

I think by the end of Trump’s presidency, the end of 2028 bitcoin will be about $1 million.

The prediction, made against the backdrop of what he sees as unsustainable U.S. government spending and growing monetary debasement, underscores his conviction that bitcoin will emerge as the global safe-haven asset. Though he anticipates altcoin activity to follow later in the cycle, Hayes made it clear that bitcoin will remain the centerpiece of Maelstrom’s strategy and his own investment outlook.

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