Arthur Hayes warns AI bubble could trigger financial crisis worse than 2008

BitMEX co-founder Arthur Hayes predicts that debt-driven investment in AI infrastructure could lead to a major financial crisis around mid-2028. Hayes argues that markets are mispricing AI by treating it as a revolutionary technology rather than a capital-intensive real estate project. With Morgan Stanley estimating $3 trillion in global data center investment needs through 2028, Hayes anticipates that a subsequent market collapse would force massive monetary intervention, ultimately benefiting Bitcoin as liquidity returns to the system.