Trump’s ‘Big Beautiful Bill’ Passes—And Bitcoin Could Fall to $90K, Says Arthur Hayes

Bitcoin may be close to a new all times after breaking $ 110,000 earlier on Thursday, but this year it will probably still test $ 90,000 after President Trump’s “Big Beautiful Bill” has been signed by law, Crypto entrepreneur Arthur Hayes said this week.

In a blog post on Wednesday entitled “Quid pro stablecoin,” The co-founder and former head of Crypto Exchange Bitmex said that the bill of the President Die wants to reduce taxes and want to increase the debt ceiling-the American treasury would cause it to borrow more.

The bill entered the House of Representatives a while ago, after he had previously cleaned up the Senate. President Trump is expected to sign the bill on Friday, Independence Day.

Hayes argued that the treasury would fill its general account, which would result in potential liquidity outlet of markets- and in turn influences the price of assets as Bitcoin influences. However, he eventually thinks that Bitcoin will continue to push afterwards, he added.

“Go carefully,” he wrote, adding that “the bullmarkt can be interrupted for a short period.”

Bitcoin recently exchanged hands for $ 109,594 per coin after hardly a period of 24 hours. It has risen by more than 2% in the last seven days, according to crypto data provider Coingecko, and is still a 2% discount on his High of May of $ 111,814.

Hayes has said earlier that the monetary policy of the US central bank – in particular money prints – would ultimately benefit Bitcoin and other cryptocurrencies.

In May the billionaire wrote that by 2028 Bitcoin could hit $ 1 million per coin while investors get money from American treasury and park in other assets.

Hayes also wrote in his blog post on Wednesday that the interest of the US government in Stablecoins is not about solving payment problems, but rather reduce the deficit. Stablecoins are digital tokens linked to the value of non-fighter assets, usually dollars.

The Senate adopted the Genius Act last month, a piece of legislation that creates a framework for publishing and trading stabilecoins in the US

Hayes argued that the law would prevent private companies from issuing Stablecoins, and instead large banks could use the digital tokens to buy American treasury drawings as a way to reduce debts.

Edited by Andrew Hayward