Bitcoin Can Go Above $200k by Year End, Says Arthur Hayes

The vocal co-founder and former CEO of BitMEX, Arthur Hayes, has set the crypto world abuzz with his bold predictions for Bitcoin, gold, and even Ethereum. In a recent interview with Fortune dated 18 May 2025, he predicted that Bitcoin will surge to $200,000 in the near term, potentially as soon as the third quarter of 2025. He predicted that BTC could even hit $250,000 by the year-end. Hayes, the youngest African-American crypto billionaire, also stands by his long-term target of $1 million per Bitcoin by the end of 2028, coinciding with the close of US President Donald Trump’s second Presidential term.

“I think Bitcoin needs to go above $110k and increasing volumes reach $150k-200k. I think that happens sometimes in the summer or early third quarter and then the rotation starts into various altcoins,” said Hayes.

Arthur Hayes @CryptoHayes with his upcoming bull run thesis
Arthur Hayes predicts BTC to $200K, ETH comeback, but doubts SOL’s edge. Yet, experts see SOL hitting $137–$500 in 2025, driven by DeFi & ETFs. Hayes holds 20% gold. #Bitcoin #Ethereum #Solana https://t.co/JEJ7YiGEQI… pic.twitter.com/3GhwB7Yrat

— CryptoDaku (@CryptoDaku_) May 19, 2025

“I think Bitcoin in this next little run could go close to $200,000. And then altcoin season comes around”

He expects Bitcoin’s dominance to continue rising. Once there is BTC trading volume spikes, Hayes anticipates the onset of a new altcoin season-likely in the summer or early third-quarter of 2025. However, he warns that this altcoin cycle will differ from the wild super cycle of 2021. If Hayes had to pick between Ethereum and Solana, he clarified he would pick Ethereum.

Commenting on gold holdings, he said, “And I still believe that the US is going to revalue their gold holdings much higher to depreciate the dollar against gold. So, I think gold could be $10,000-20,000 by the time we finish with this rally.”

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“I think by the end of Trump’s presidency, the end of 2028 Bitcoin will be about 1 million dollars,” insisted Arthur Hayes

“I think people’s expectations are very very high and they think that crypto is the number one thing that Trump needs to focus on. You know, Trump’s a politician, he’s got a lot of things he’s got to focus on, so I think people need to be patient,” he added.

However, Hayes also pointed to the Treasury’s recent “slight of hand,” draining the Treasury General Account (TGA) from $750 billion to $450 billion in under a quarter. According to him the government is tapping “extraordinary measures” to sidestep borrowing limits. This means that the US is spending more than official debt figures suggest.

“I believe that the US government has to borrow more money than what we think, and therefore, [Treasury Secretary] Bessent will have to issue more debt and therefore he needs to find a way for these individuals to obtain as much leverage as possible through the banking system and ultimately that means that there’s more dollars floating around in the world because the US government is spending more money on stuff,” said Hayes.

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Key Takeaways

Hayes predicted that Bitcoin will surge to $200,000 in the near term- potentially as soon as the third quarter of 2025.

Hayes anticipates the onset of a new altcoin season-likely in the summer or early third-quarter of 2025. However, he warns that this altcoin cycle will differ from the wild supercycle of 2021.

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