**[Arthur Hayes: Bitcoin Price May Climb to $200,000 by 2025, Targeting $1 Million by 2028]** BlockBeats reported on September 15 that BitMEX co-founder Arthur Hayes predicted in a recent interview that Bitcoin's price could rise to $200,000 by the end of 2025, with U.S. Treasury buybacks being the primary driving force. Hayes believes that the U.S. government's potential bond buyback program will inject new liquidity into the economy. By reducing volatility in the Treasury market and freeing up capital, this could redirect investors' funds toward higher-risk assets, including Bitcoin. This macroeconomic environment would act as a catalyst for a significant surge in Bitcoin's price, and if favorable conditions persist, Bitcoin could reach $200,000 by the end of the year. Arthur Hayes further extended his bullish outlook into the long term, suggesting that Bitcoin's price could hit $1 million by the end of 2028. He noted that this prediction is closely tied to trends in U.S. fiscal spending and broader political developments. Persistent deficit spending and monetary intervention will erode confidence in fiat currencies, thereby driving the adoption of Bitcoin as a hedging tool.