A major financial crisis is coming – Arthur Hayes➤ If the AI bubble bursts, a crisis more severe than in 2008 will begin. The world has placed too much faith in AI: investors have decided that it is the main technology of the era, and have poured huge capital into the sector.➤ When the bubble starts to deflate, authorities will once again try to save banks and the system through printing money. But this capital will no longer return to AI. If the sector stops covering the cost of capital, investors will refuse to fund this story again.➤ Then money will start flowing into the crypto market. The AI bubble + a new wave of money printing could become the main fuel for the next rapid growth of Bitcoin. BTC could soar to $1,000,000.➤ The Fed's printing press won't solve the AI bubble problem – no matter how much money is poured into the sector, it won't make chips develop faster or fix the unprofitable economy of projects.➤ For the crypto market, this could be a deal on the level of the mortgage bubble short: like John Paulson and Michael Burry in 2008, only in a new era.