Arthur Hayes: Bitcoin's target price drops from $500K to $125K On May 15, 2026, BitMEX co-founder and Maelstrom CIO Arthur Hayes (@CryptoHayes) shared during a CoinDesk Live roundtable at Consensus Miami 2026 that he has revised Bitcoin's target price down from $500,000 to $125,000. He believes that as a fixed-supply asset, Bitcoin's value is determined by the total amount of fiat currency in circulation. He noted that in Q1 of this year, tech stocks and SaaS concept stocks took a heavy hit due to panic over artificial intelligence, and Bitcoin's performance during that time was actually signaling to the market: the total amount of money being created globally is currently insufficient to offset the deflationary effects of AI-driven unemployment waves and debt defaults. Therefore, the pace of money printing by global central banks and commercial banks in the future will directly determine how high Bitcoin can go. Source: CoinDesk