Hayes Dips Deeper into ETH with $6.39M Buy Amid Paper Loss

Arthur Hayes, former BitMEX CEO and now chief investment officer of Maelstrom, has bought another $6.39 million in ether (ETH), bringing his total purchases to 7,213 ETH at an average entry price of $1,923 per coin.

This latest purchase comes despite a $301,000 paper loss on his previous buys, which averaged $1,923 per ETH since July 15.

Ether is currently trading near $1,900, up about 20% for the month as ETF inflows have tripled those of Bitcoin's.

Hayes' buying streak follows a $606,000 loss he booked on ETH just weeks earlier, but he has maintained that wartime-driven inflation and regulatory changes will push total credit creation past $4 trillion, making Bitcoin and Ether go higher.