Trump's 'Big Beautiful Bill' Passes—And Bitcoin Could Fall to $90K, Says Arthur Hayes
Bitcoin has surpassed $110,000 and may approach a new all-time high, but is expected to test $90,000 again following the signing of President Trump's "Big Beautiful Bill." This bill aims to cut taxes and increase the debt ceiling, potentially leading the U.S. Treasury to borrow more, which could drain liquidity from markets and impact Bitcoin's price. Despite this, crypto entrepreneur Arthur Hayes believes Bitcoin will continue to rise after a possible short-term interruption in the bull market. Currently, Bitcoin trades at $109,594, having increased over 2% in the past week. Hayes predicts Bitcoin could reach $1 million by 2028 as investors shift from U.S. treasuries to cryptocurrencies. He also notes that the U.S. government's interest in stablecoins focuses on deficit reduction rather than payment solutions, with recent legislation creating a framework for stablecoin issuance and trading.
