X’s favorite crypto genius, Arthur Hayes, said there will be lots of money printing that will drive the price of
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beyond $200k this year. And honestly, he might be right!
The ex-BitMEX CEO claims the European Central Bank will be dragged into a money-printing spree to rescue France’s finances. In his view, that intervention won’t stabilize Europe so much as accelerate Bitcoin’s next leg higher.
Arthur Hayes: What Is France’s Debt Problem and the ECB’s Dilemma?
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France, the Eurozone’s second-largest economy, carries one of the heaviest public debt loads in the bloc. Hayes contends that this burden will inevitably push the ECB to expand its balance sheet to preserve the euro’s stability.
“The ECB will valiantly print money to forestall the loss of its raison d’être,” Hayes wrote in his blog, bluntly adding: “France is f*cked.”
ARTHUR HAYES: Bitcoin is going to $3.4 million by 2028. pic.twitter.com/e89nPxoWsn
— Fiat Archive (@fiatarchive) September 29, 2025
Hayes continued, “Either the ECB presses the Brrr button now and implicitly finances the French welfare state, or it does it later when French capital controls threaten to destroy the euro. Either way, money gets printed in the trillions of euros.”
The thesis mirrors his earlier predictions that US quantitative easing would provide a long-term tailwind for Bitcoin. Now, Hayes sees the same dynamic playing out across Europe.
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Bitcoin sits around $120,500, up more than 7% on the week, CoinGecko data shows. The move has tracked political turmoil, including a looming US government shutdown that sent capital hunting for safe havens. Glassnode reports less than 2.3 Mn BTC remain on centralized exchanges, a structural sign that supply keeps tightening.
Ethereum has ridden the same wave, climbing nearly 10% to $4,492. Hayes has staked a bold call on ETH at $10,000 by 2025 in addition to Bitcoin at $1 million by 2028.
“It shall be a glorious day for the faithful as printed euros will combine with printed dollars, yuan, yen, etc. to bid up the price of Bitcoin,” Hayes argued.
Data from the Federal Reserve’s FRED database shows global liquidity conditions remain historically loose despite rate cuts only beginning this fall. Meanwhile, European deficits and China’s stimulus efforts have reinforced the narrative that fiat debasement is structural, not temporary.
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Hayes might not get the timing of his predictions right, but he backs up his thesis: Bitcoin tends to surge when governments print and debt piles up. France’s fiscal mess is the latest example feeding the safe-haven story, with exchange balances shrinking and ETF flows showing steady institutional demand.
His long bet is simple: that the global debt machine leaves Bitcoin as the last asset left standing.
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Key Takeaways
- X’s favorite crypto genius, Arthur Hayes, said there will be lots of money printing that will drive the price of bitcoin to $200k.
- Hayes long bet is simpler: that the global debt machine leaves Bitcoin as the last asset left standing..
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