Hayes Stacks on Ethereum Bets Amid $4K Price Frenzy

Arthur Hayes, co-founder of BitMEX, is continuing to make significant investments in Ethereum despite his company's recent announcement that it will be closing. The closure was made public just as Ethereum saw a surge in price, reaching levels not seen since months prior. Specifically, ETH has traded near $2,000 for the first time in several months.

This upward trend in the market has led to renewed speculation about the potential price of Ethereum, with some predicting it will hit $4,000. However, Hayes' continued purchases suggest he is confident in the asset's future performance.

The BitMEX co-founder's move comes as a surprise given his company's recent announcement. Nevertheless, it appears that Hayes remains bullish on Ethereum and is willing to take calculated risks in the market.