Arthur Hayes, co-founder of BitMEX, predicts Bitcoin could surge to $1 million within three to five years, driven by increased institutional adoption and a fixed supply of 21 million coins. He argues that as governments expand their money supply, more investors will view Bitcoin as a hedge against inflation, leading to a significant rise in demand and price. Currently trading at $94,403, Bitcoin's potential growth is fueled by a growing number of long-term holders and retail investors reallocating retirement funds into the asset.