Arthur Hayes shared one of his most popular crypto views in two recent interviews, one with Michael van de PoppeThe New Era Finance podcast is another one with Bankless.
The former CEO of BitMEX answered a question that many crypto investors have been asking. Why hasn’t Bitcoin moved much despite growing institutional adoption and long-term demand?
“Bitcoin didn’t work because AI took all the money. There’s no more money to run crypto.”
Hayes says one of the main reasons Bitcoin and the broader crypto market have struggled is that investors have been pouring money into AI-related opportunities.
“The bursting of the AI bubble … will be very small.”@CryptoHayes he thinks that the next leg of crypto comes from AI success.
It comes from AI capital misallocation breaking the system, forcing another wave of money to print, and sending investors to crypto.… https://t.co/F43OXEKcmg pic.twitter.com/HkYIxKa2RG
– Bankless (@Bankless) June 18, 2026
In his view, AI has become a hot topic over the past few years, attracting investment that would otherwise have gone into crypto. As a result, Bitcoin has been left competing for exposure while AI, infrastructure projects, and data-centered businesses have soaked up the money.
“The damage from the AI bubble will be minimal.”
One of Hayes’ strongest words was his warning that the AI boom could turn into a big bubble.
He says that a lot of money has been given to AI in the last six to seven years, and sometimes investors can realize that many of these projects are not bringing returns that justify the money spent. If that happens, the fallout could be worse than the 2008 subprime mortgage crisis.
“The first answer will be: we just need to throw fiat money.”
Hayes believes that if an AI-driven financial crisis hits the system, governments and central banks will respond in the same way they did in past crises, by injecting new money into the economy.
According to him, the financial authorities have printed a lot of money to establish banks and markets. The amount of money is what he has been waiting for, calling it a “big deal”.
“Capital capital is moving to crypto.”
As investors lose confidence in AI investments, Hayes expects new investments to look for a new home.
His view is that crypto could be one of the biggest beneficiaries of this change, especially if investors see the digital economy as a better opportunity than the struggling AI projects.
“Bitcoin million.”
The end result of this chain, according to Hayes, is a very high price of Bitcoin.
Although the timing is still uncertain, it is said that the collapse of the AI bubble followed by the aggressive printing of money could push Bitcoin to $1 million, making it one of the long-term predictions on Wall Street and crypto.
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