Arthur Hayes: US will move towards capital controls, which will push BTC price to $1 million

Arthur Hayes wrote that if the US moves towards capital controls, foreign portfolio assets totaling up to $33 trillion could flow out. And if 10% ($3.30 trillion) of these foreign portfolio assets flow into bitcoin in the next few years, exchanges hold about $300 billion of bitcoin at current market prices. If 10 times the amount of money tries to flood the market, the price will rise by far more than 10 times, which will push the price of BTC to $1 million. Of course, if the price surges to $1 million, long-term holders will take the initiative to sell their bitcoin for fiat, but as these portfolio assets move to bitcoin, an epic short squeeze will ensue.