If we believe Bitcoin’s recent failure to comply with anti-money laundering protocols, it is possible that Bitcoin could hit a seven-figure price by 2030. The reason for the increase in Price is that governments are unable to stop printing money, so prices should rise. As a result, commodities should experience a rise in Price. The devaluation of fiat currencies should help commodities’ prices. The bitcoin trading platform is a virtual currency exchange and a bitcoin wallet provider. It offers trading between the U.S. dollar, euro, and bitcoin. The company was founded in 2011 by Fred Ehrsam and Brian Armstrong.
Bitcoin Could Have A 7-Figure Price By 2030
The former CEO of BitMEX, Arthur Hayes, has just doubled down on his previously stated Bitcoin price prediction, claiming that the cryptocurrency will reach a seven-figure level by 2030. While we are still very early in its history, Hayes sees a bright future for the cryptocurrency, noting that countries worldwide are ditching the United States dollar and euro. He also points to the long-term effects of the sanctions on Russia and the euro.
While it’s still early in the cryptocurrency’s growth trajectory, Ark Investment Research already sees vital signs of adoption. Large insurance companies, asset managers, pension funds, and university endowments allocate their money to bitcoin. Even some historically skeptical fund managers are making significant investments. And the largest over-the-counter bitcoin fund recently filed a Form 10 registration statement, which took effect automatically. Meanwhile, companies like Tesla Inc. and MicroStrategy Incorporated also invest in cryptocurrency.
Bitcoin Will Cost $1 Million Per Ounce By 2030
Bitcoin is in its infancy and far from reaching the price predictions of the cryptocurrency industry. However, one expert in the crypto space, Arthur Hayes, says that Bitcoin will eventually cost $1 million per ounce by 2030. Hayes says this will happen because of a fatal loop in Western financial policy and yield curve control.
Bitcoin’s Price will rise dramatically in the next decade, according to former BitMEX CEO Arthur Hayes. This prediction is similar to the one by Ark Invest’s Cathie Wood, who says that gold will hit $20,000 per ounce by 2030. However, the former BitMEX co-founder’s prediction is still far off.
Bitcoin’s Rival, Gold, Will Drive It
Former BitMEX CEO Arthur Hayes has predicted that the Price of Bitcoin will hit $1 million by the end of the decade, while the Price of Gold will rise from $10,000 to $20,000 a troy ounce. The former CEO cited the ineffective monetary policies of the U.S. and E.U. as reasons why the Price of gold will increase. He further predicts that if the financial system collapses in Western countries, gold prices will skyrocket to $20,000 per ounce.
Hayes explains that the world’s financial markets are under significant socio-political pressures, with the Russian invasion of Ukraine having resulted in many sanctions. Considering these developments, Hayes predicts that gold will become the primary currency in the world and that Bitcoin’s Price will be driven by gold. He also discusses how the global reaction to this escalating conflict affects the Price of Bitcoin.
BitMEX’s Failure To Maintain Anti-Money Laundering Protocols
A Former CEO of BitMEX accepted violating the Bank Secrecy Act. He accepted that he was not able to curb money laundering practices. The former BitMEX CEO was sentenced to six months of home detention and paid a fine of $10 million.
The allegations against BitMEX stem from failing to implement a comprehensive monitoring system and a comprehensive internal control framework. This meant it could not monitor transactions for potential money laundering and sanctions violations. Furthermore, it did not file any SARs with FinCEN.
Arthur Hayes, the former CEO of the BitMEX exchange, predicted that bitcoin will reach $1 million by 2030. Like Ark Invest’s Cathie Wood, Hayes believes cryptocurrency will soon become a trillion-dollar asset class. He also believes that gold prices will hit $20,000 per ounce if the Western financial system collapses.