 
 
Just days after warning of a major price drawdown, BitMEX co-founder Arthur Hayes seems to have changed his tune.
The crypto billionaire Arthur Hayes has quickly repurchased millions worth of Ethereum just a week after selling a massive tranche. This latest move suggests he sees renewed upside in ETH.
“I Pinky Swear, I’ll Never Take Profit Again”
Last week, data from LookOnChain indicates that Hayes sold 2,373 Ether (ETH), valued at $8.32 million at the time, when the second-largest cryptocurrency was trading hands at around $3,500 and moved to accumulate stablecoins. The sale locked in profits before Ether’s latest price upsurge.
At the time, he warned that mounting macroeconomic headwinds, including President Donald Trump’s tariffs and weaker-than-expected U.S. jobs data, could pull Bitcoin back to $100,000 and Ether to $3,000.
Now, however, he seems to have reversed course. On-chain data shows a wallet address belonging to Hayes transferred $10.5 million in USDC stablecoin via multiple transactions on Saturday to purchase back Ethereum. ETH is currently loitering at around $4,200 — which is considerably higher than Hayes’ earlier exit point.
 
“Had to buy it all back, do you forgive me @fundstrat?” the former BitMEX CEO said in an X post, tagging Tom Lee, the founder of Fundstrat and chairman of Ethereum treasury firm Bitmine Immersion. “I pinky swear, I’ll never take profit again,” he added while sharing an ETH chart.
Apart from Hayes, traditional finance is also increasingly buying into Ethereum.
Ether Treasury Boom
Buying ETH for the balance sheet, following Michael Saylor’s Bitcoin-focused buying playbook, has taken off recently.
Tom Lee’s Bitcoin miner BitMine Immersion has snapped up Ether tokens worth over $3 billion, making it the world’s largest public holder of ETH.
Other publicly traded companies, including SharpLink Gaming and The Ether Machine, have also adopted a strategy of building Ethereum treasuries, while operating validators and staking the tokens to earn rewards.
Source: https://zycrypto.com/arthur-hayes-had-to-buy-it-all-back-a-week-after-selling-8-3-million-in-ether/