Ex-head of BitMEX expects Bitcoin to grow to $1 million

The co-founder of the BitMEX exchange, Arthur Hayes, supports the point of view of those experts who are waiting for a breakthrough of bitcoin to $1 million. Moreover, Hayes does not rule out that the largest digital currency will even be able to exceed this psychological mark.

The ex-head of the crypto exchange justifies his position by saying that the new bank financing program developed by the Federal Reserve System can not only improve the situation in the US economy, but also increase investors' interest in alternative instruments.

The financing program will lead to an increase in the monetary reserves of American banks, and they will receive capital in exchange for the placement of government bonds. Such a scheme can lead to aggressive pumping of bitcoin and its rise to $ 1 million. The current quote of the BTC/USD pair is $27 925. 

It is worth noting that the urgent bank financing program is an emergency credit line that allows financial institutions, including banks and credit unions, to borrow funds for up to one year by providing collateral, such as US Treasury bonds, mortgage-backed securities, etc. Thanks to this program, banking giants, including J.P. Morgan and Wells Fargo, received a rescue tranche of $210 billion.