Arthur Hayes: #BTC# Bitcoin is expected to rise to $1 million before 2028. He has increased his position at the market low, and now is a good time to pick quality alts that can outperform Bitcoin in a bull run. He is particularly optimistic about two projects: PENDLE and ETHFI. The influx of foreign capital and massive devaluation of US bonds will become the two major catalysts for Bitcoin to reach $1 million before 2028. Although he believes Bitcoin will rise to $1 million, there are still opportunities for shorting in the short term. He pointed out that capital controls and currency printing are imminent, but the road ahead is full of uncertainties. The Trump team has been inconsistent on capital control, so there may be different policy directions.