Hayes also expressed concerns over large traditional finance firms entering the crypto space. These firms tend to accumulate assets without actively using them, potentially causing issues if they hold the majority of circulating Bitcoin. He believes that if people opt for Bitcoin ETFs instead of holding and using the actual coins, the network could face serious problems, eventually leading to the emergence of a new cryptocurrency network. Consequently, Hayes emphasized the importance of maintaining Bitcoin’s user activity and preventing it from becoming a government-controlled financial asset.
Furthermore, Hayes recently made an interesting prediction, stating that stronger economic ties between Russia and China could contribute to Bitcoin’s growth. He forecasted that the value of the cryptocurrency could potentially reach $760,000 in the coming years.