Arthur Hayes Doubles Down: Buys $6.39M in ETH Despite $301K Paper Loss
Former BitMEX CEO Arthur Hayes is demonstrating massive conviction in the crypto markets, executing a fresh $6.39 million purchase of Ether (ETH). Despite his current position sitting roughly $301,000 underwater, the Maelstrom CIO is aggressively expanding his holdings, bringing his total to 7,213 ETH.
This high-stakes accumulation follows a series of recent losses, including a $606,000 hit on ETH just weeks ago. By ignoring short-term paper losses, Hayes is signaling a major bet on the long-term recovery and dominance of the Ethereum network amidst current market volatility.
The Maelstrom chief investment officer's buying streak follows a $606,000 loss booked on ETH just weeks earlier. According to data flagged by Lookonchain, Hayes is doubling down on his bullish thesis, betting heavily on the future price action of Ethereum despite recent market turbulence.
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