The Rollup Arthur Hayes: Trump’s Fed Takeover Will Send Bitcoin to $250K Before Year End
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Oct 6, 2025 
Arthur Hayes, co-founder of BitMEX and crypto macro analyst, shares his bold prediction that Bitcoin could soar to $250K by year-end, fueled by Trump's covert strategy to seize control of the Federal Reserve. He delves into the dynamics of hyperfinancialization, noting that salaried workers are often left behind, while asset owners thrive. Hayes also highlights stablecoins as global dollar bank accounts and discusses the geopolitical implications of America's declining dominance. It's a wild ride through the future of money and macroeconomics!
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Stablecoins Turn The World Into Dollar Bank Accounts
- Stablecoins give non-US users dollar-denominated bank accounts and on-chain access to yield and payments.
- That access funnels capital into on-chain lending, yield products, and speculative perpetuals.
Zero-Fee Perps Are A Strategic Weapon
- Perp DEX competition can become a zero-fee arms race driven by exchanges protecting spot revenue.
- Binance can subsidize free perpetuals to undermine fee-generating rivals like Hyperliquid.
Perps Provide The Leverage Retail Traders Want
- Perpetual contracts deliver delta-one leveraged exposure retail traders crave and enable broad price discovery.
- They replace clunky TradFi leverage products and attract a global retail trading base.