BitMEX co-founder Arthur Hayes reaffirmed his $125,000 Bitcoin (CRYPTO: BTC) target at Consensus Miami 2026, dismissing the CLARITY Act as irrelevant and arguing that fiat liquidity is the only factor that matters.
Regulation Won’t Move The Needle
Hayes bluntly dismissed pending U.S. crypto legislation, including efforts to establish clearer rules for stablecoins and digital assets.
He argued that the CLARITY Act will bring nothing unless it triggers more money printing.
Hayes noted the industry has already grown into a multi-trillion-dollar market without regulatory certainty.
He argued that regulation primarily benefits centralized companies rather than the underlying crypto assets themselves, and anyone who wants to integrate Bitcoin into their business has already found a way since 2009.
The reason crypto has value is its utility outside the traditional banking system, Hayes explained.
Bitcoin has proven it works without regulatory …
