The Ultimate Judgment of Two Whales: The Real Big Move in Bitcoin Might Still Be Ahead

Recently, the market has seen two highly representative voices.

Veteran macro trader Arthur Hayes believes that until the Federal Reserve truly releases liquidity and fills the gap in the banking system's balance sheet, Bitcoin is unlikely to experience a truly significant rally.

His logic is straightforward:
AI is gradually impacting knowledge-based jobs, disrupting income structures, and the risk of consumer credit defaults may rise. When financial system pressures increase, the Federal Reserve often releases liquidity again, and these "money-printing cycles" are often the fuel for Bitcoin's rise.

Based on this judgment, he has made quite aggressive predictions:

Summer 2026: $150k—$200k
End of 2026: $250k—$500k
2028: $1M

On the other side, "Bitcoin's most steadfast institutional bull" Michael Saylor continues to add to his holdings.

His company Strategy recently disclosed that it has invested about $2.54 billion to buy 34,164 Bitcoins, at an average price of approximately $74,395.
As of April 19, the company's total holdings have reached 815,061 BTC, with a total cost of about $61.56 billion, and an average cost of approximately $75,527.

Saylor's core view is:
As companies and ETFs continue to absorb circulating supply, Bitcoin's supply will become increasingly tight, eventually possibly entering a phase of "non-linear pricing."

In his extreme long-term model, if Strategy holds about 7.5% of the total Bitcoin supply, the theoretical price could even point to $10 million.

The market will always move forward amid doubt.
The real big opportunity never appears only after everyone understands it.

While most people are still debating the price, smart money is already quietly accumulating positions.
Cycles will fluctuate, but conviction and patience are often the sharpest weapons to navigate through bull and bear markets.