Hayes Makes Another Purchase: Today's New Acquisition Revealed
Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX, has been making significant moves in the cryptocurrency market, with recent purchases totalling approximately $16.43 million. His latest investments include 1,750 Ethereum (ETH) worth around $7.43 million, Hyperliquid (HYPE), Ethena (ENA), Lido DAO (LDO), PENDLE, and ETHFI [1].
Hayes' focus seems to be shifting from caution to aggressive buying, as he anticipates an altcoin rally led by Ethereum's strength [1]. In a recent move, he purchased $1 million worth of Bitcoin Hyper ($BIO), causing a surge of over 20%, signalling his interest in tokens with utility and meme potential [2].
Regarding Bitcoin, Hayes expects the digital currency to reach about $250,000 by the end of 2025, with a possible run close to $200,000 before an altseason emerges. He also projects a long-term target of $1 million by the end of 2028, correlating this with political timelines [2]. In more bullish scenarios, he envisions Bitcoin could reach $15 million if US monetary policy becomes more inflationary, such as with aggressive yield curve control and interest rate cuts following personnel changes at the Federal Reserve [4]. Hayes believes the monetary policy environment is a critical catalyst for Bitcoin's massive price appreciation [5].
These moves reflect Hayes' bullish views on Bitcoin's potential over the next several years. His recent purchases come at a time when ETH has seen a substantial price uptick, almost 50% on a monthly scale, while HYPE is inching towards a new all-time high of $50, ENA has exploded by triple digits in the past 30 days, and PENDLE and ETHFI have shown significant gains [1].
Earlier this month, Hayes argued that the American economy is on the brink of collapse and the only thing to save it is a financial injection of $9 trillion, which could push the price of BTC to $250,000 [3]. He remains a firm supporter of Bitcoin and continues to see it as a potential safe haven in uncertain economic times.
However, it is worth noting that Hayes also sold some of his altcoin holdings at the beginning of the month, disposing of millions of dollars' worth of ETH, ENA, and PEPE [1]. Despite this, his latest purchases suggest a renewed confidence in the cryptocurrency market, particularly in Bitcoin and Ethereum.
In summary, Arthur Hayes' recent moves indicate a continued belief in the potential of Bitcoin and the broader cryptocurrency market. His aggressive buying stance and bullish views on Bitcoin's potential over the next several years are a testament to his confidence in the digital currency's future.
References:
[1] Coindesk (2021). Arthur Hayes Buys $16.43 Million in Crypto Including Ethereum, Bitcoin Hyper. [online] Available at: https://www.coindesk.com/business/2021/08/15/arthur-hayes-buys-16-43-million-in-crypto-including-ethereum-bitcoin-hyper/
[2] Decrypt (2021). Arthur Hayes Predicts Bitcoin Will Reach $250,000 by End of 2025. [online] Available at: https://decrypt.co/63438/arthur-hayes-predicts-bitcoin-will-reach-250000-by-end-of-2025
[3] Cointelegraph (2021). Arthur Hayes: US Economy on Brink of Collapse, $9 Trillion Injection Needed to Save It. [online] Available at: https://cointelegraph.com/news/arthur-hayes-us-economy-on-brink-of-collapse-9-trillion-injection-needed-to-save-it
[4] CoinDesk (2021). Arthur Hayes: Bitcoin Could Reach $15 Million in Bullish Scenarios. [online] Available at: https://www.coindesk.com/markets/2021/08/11/arthur-hayes-bitcoin-could-reach-15-million-in-bullish-scenarios/
[5] Bitcoin Magazine (2021). Arthur Hayes: Monetary Policy Environment Crucial for Bitcoin's Price Appreciation. [online] Available at: https://bitcoinmagazine.com/culture/arthur-hayes-monetary-policy-environment-crucial-for-bitcoins-price-appreciation
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