US 'Economic Fascism' Will Pump Bitcoin To $250,000, ETH To $10,000, Arthur Hayes Predicts

Maelstrom Capital founder Arthur Hayes on Wednesday said that Ethereum ETH/USD is about to lead a historic market rally, saying "the coming Ether bull run is about to tear the market a new [expletive]."

What Happened: Hayes, known for blending macroeconomic analysis with brash trading rhetoric, argues that a wave of credit creation driven by U.S. wartime industrial policy will inflate risk assets, with crypto, specifically Ethereum, poised to benefit most.

Citing his own bullish allocations, he set a year-end target of $250,000 for Bitcoin BTC/USD and $10,000 for Ether.

Rather than focus narrowly on charts or short-term catalysts, Hayes offers a sprawling narrative linking geopolitics, credit growth, and fiscal policy.

He believes the U.S. is entering a period of "economic fascism," modeled on China's credit-fueled industrial expansion, where government-backed private lending will pump capital into critical sectors, including digital assets.

Central to his thesis is the idea that rising crypto market caps will indirectly finance U.S. debt.

As stablecoin issuers accumulate assets under custody, they invest heavily in Treasury bills.

"A rising crypto market creates massive inflows into stablecoins… which finance the ever-expanding federal deficit," Hayes wrote.

He claims this setup benefits both political incumbents and retail investors, describing it as a state-sanctioned wealth creation mechanism through asset bubbles.

Unlike traditional commodities or housing, crypto offers a speculative outlet that won't spark popular unrest if it surges in value.

Also Read: Ethereum, Solana, XRP Outpace Bitcoin: Is The Altcoin Trade Here To Stay?

Why It Matters: Ethereum, he argues, has become the perfect target for institutional capital hungry for yield and narrative.

"Ever since Solana SOL/USD rose from the FTX ashes from $7 to $280, Ether has been the most hated large-cap crypto. No more," Hayes wrote, citing renewed interest from U.S. institutions and the asset's perceived safety under regulatory frameworks.

Hayes's blog also ridiculed those sitting out of the market, mocking risk-averse investors as party-poopers nursing light beer in the corner while the rest pop champagne.

While filled with bravado and expletives, Hayes's argument is ultimately rooted in macroeconomic mechanics: increased fiscal deficits, credit growth, and capital searching for yield.

In his view, the crypto market's architecture, particularly through stablecoins, makes it an ideal pressure valve for this monetary expansion.

His bottom line? "The kick drum is thumping. The credit is pumping. Why are you not fully invested in crypto?"

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