Arthur Hayes, co-founder of BitMEX and head of Maelstrom, said ETH is the largest holding in his portfolio outside of Bitcoin. He described Ether as the second-largest token by market capitalization that still has not broken above its 2021 all-time high, arguing that its risk-reward profile stands out against other crypto assets. In Hayes’ view, ETH carries a much lower risk of going to zero than many alternatives, which is why he is comfortable holding a large position. He also said Ether has posted relatively limited gains in the current cycle, leaving room for catch-up. If momentum kicks in, Hayes expects a reflexive move higher. He added that once ETH clears the $3,000 level, it could move quickly to above $5,000, bringing his year-end target within reach. Hayes also said many investors still want long exposure to ETH for a range of reasons.
Arthur Hayes, co-founder of BitMEX and head of Maelstrom, said ETH is the biggest position in his portfolio outside of Bitcoin, according to ChainCatcher.
Hayes said Ether is the second-largest token by market capitalization, yet it still has not surpassed its 2021 all-time high. He said that, from a risk-reward perspective, ETH has a much lower chance of going to zero than other crypto assets, which is why he is willing to hold it as a large position.
He also said ETH has posted limited gains in the current cycle and still has substantial room to catch up. Once the price starts moving, Hayes expects a reflexive upswing. In his view, if ETH breaks above $3,000, it could quickly climb past $5,000, putting his year-end target within reach. He added that many investors still want to be long ETH for various reasons.
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