• Hayes attributed Bitcoin’s rise to $70k to ETFs.
• Investors have started to show an increased preference for BTC.

In the wake of fluctuating Bitcoin [BTC] prices, Arthur Hayes, the co-founder of BitMEX, has issued an optimistic forecast for the cryptocurrency’s future.

In the latest episode of “The Wolf of All Streets” podcast, Hayes envisioned Bitcoin reaching unprecedented heights. He commented,

“A million? I don’t think people have big enough imaginations…why did it go so fast as 70,000? Because a bunch of people now can check a box and buy some Bitcoin ETF.”

Recent statistics bolster his argument. The ten leading spot Bitcoin ETFs witnessed a remarkable 15% increase in net inflows, reaching $2.57 billion just last week.