Bitcoin Could Surpass $200k by Year-End, Claims Arthur Hayes

Arthur Hayes, the outspoken co-founder of BitMEX, has stirred excitement in the cryptocurrency realm with his daring forecasts for Bitcoin, gold, and ETH. In a recent discussion with Fortune on 18 May 2025, he predicted that BTC could escalate to $200,000 in the near future, possibly as early as the third quarter of 2025. He mentioned the potential for BTC to reach $250,000 by the end of the year. Hayes, recognized as the youngest African-American crypto asset billionaire, continues to advocate for his long-term goal of $1 million per BTC by the conclusion of 2028, aligning with the end of US President Donald Trump’s second term.

“I believe BTC must exceed $110k and increasing volumes should drive it to $150k–$200k. I see this occurring sometime in the summer or the early third quarter, followed by a shift towards various altcoins,” Hayes remarked.

Arthur Hayes @CryptoHayes with his upcoming uptrend outlook
Arthur Hayes foresees Bitcoin reaching $200K, an ETH resurgence, yet remains skeptical about SOL’s advantages. Nonetheless, analysts project SOL could hit $137–$500 in 2025, fueled by DeFi & ETFs. Hayes retains 20% gold. #Bitcoin #Ethereum #Solanahttps://t.co/JEJ7YiGEQI… pic.twitter.com/3GhwB7Yrat

— CryptoDaku (@CryptoDaku_) May 19, 2025

“I believe Bitcoin could approach $200,000 in this upcoming run, after which the altcoin season will commence”

He anticipates that Bitcoin’s crypto market share will keep increasing. Once Bitcoin trading volumes rise sharply, Hayes foresees the beginning of a new altcoin season, likely occurring in the summer or the early third-quarter of 2025. However, he cautions that this non-BTC crypto phase will not mirror the explosive supercycle of 2021. If forced to choose between Ethereum and Solana, he made it clear he would choose Ethereum.

Regarding gold ownership, he stated, “And I continue to believe that the US is going to significantly revalue their gold reserves to weaken the dollar against gold. Thus, I see gold potentially reaching $10,000-20,000 by the time this rally concludes.”

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“I firmly believe that by the end of Trump’s presidency, in 2028 Bitcoin will be valued at around 1 million dollars,” stressed Arthur Hayes

“I think people’s anticipations are exceedingly high, thinking that crypto should be Trump’s top priority. However, Trump is a politician faced with multiple issues, so I think patience is necessary,” he added.

Nonetheless, Hayes also highlighted the Treasury’s recent “slight of hand,” reducing the Treasury General Account (TGA) from $750 billion to $450 billion in less than a quarter. He claims the government is employing “extraordinary measures” to bypass borrowing limits, indicating that the US is spending beyond what the official debt numbers reveal.

“I believe the US government needs to borrow more funds than currently understood, which implies that [Treasury Secretary] Bessent will have to authorize more debt, thus requiring a mechanism for individuals to gain as much leverage as possible through the banking sector, ultimately resulting in increased dollar circulation globally due to excess government spending,” remarked Hayes.

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