Bitcoin could hit $125,000 driven by money printing, not U.S. crypto regulations, says Arthur Hayes.

Arthur Hayes, co-founder of BitMEX, reaffirmed his Bitcoin price target of $125,000 at Consensus Miami 2026, dismissing the impact of the pending U.S. CLARITY Act on crypto prices. He argued that regulatory clarity won't affect Bitcoin's value, which is driven by its utility outside traditional banking and liquidity fueled by monetary expansion. Hayes highlighted that increased money printing during crises and government spending boosts Bitcoin's value in fiat terms. He also warned that AI-driven job losses could prompt central banks to ease monetary policy further, supporting Bitcoin's price rise through liquidity rather than regulation.