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BitMEX co-founder Arthur Hayes says Ethereum (ETH) may soar as much as $20K this cycle, fueled by shopping for from Ethereum treasury corporations and “completely insane” US cash printing.
CryptoBanter co-founder Ran Neuner requested Hayes in an interview if he thinks ETH will drop to $3K earlier than it goes on to set a brand new all-time excessive (ATH) or if one other situation will play out.
“The chart says it’s going greater,” he mentioned. “I feel ETH goes ten, twenty thousand earlier than the tip of this cycle. As soon as it’s damaged by means of then you recognize there’s a spot of air.”
Arthur Hayes simply admitted he purchased again ETH as a result of “the chart says it’s going greater.”
He sees Ethereum working as much as $20K this cycle.
When requested $ETH vs $SOL?
He’s chubby $ETH 🚀 pic.twitter.com/Yd3q1t0aCe
— SamAlτcoin.eth 🇺🇸 (@SamAltcoin_eth) August 21, 2025
His prediction comes because the Ethereum value surged greater than 7% prior to now 24 hours to commerce at $4,603.78 as of 10:40 a.m. EST.
ETH surged together with different cryptos after Fed Chair Jerome Powell, talking on the Jackson Gap summit, mentioned the financial backdrop within the US “could warrant adjusting our coverage stance,” thus suggesting rate of interest cuts are in play for September.
Ethereum Treasury Corporations Important Driving Pressure
Hayes mentioned the rising variety of corporations which can be elevating cash to purchase the altcoin to construct Ethereum treasuries is behind his bullish thesis.
As ETH’s value rises, he predicts that will probably be simpler for these corporations to lift more cash, which can result in extra buys and subsequently ship the ETH value greater.
That’s as corporations like SharpLink Gaming, which is led by Ethereum co-founder Joseph Lubin, and BitMine Immersion Applied sciences, led by Fundstrat CIO Thomas Lee, proceed to purchase extra ETH.
Information from StrategicETHReserve exhibits that 69 Ethereum treasury corporations at present maintain 4.10 million ETH.
High 5 greatest ETH treasury corporations (Supply: StrategicETHReserve)
BitMine is the present chief with 1.5 million ETH valued at $6.55 billion on its steadiness sheet. In second place is SharpLink Gaming with its 470.8K ETH holdings valued at $3.18 billion.
“The sky’s the restrict,” Hayes mentioned.
Authorities Will Go “Completely Insane” And Print Cash
One other key issue driving the ETH value greater will likely be US cash printing.
He mentioned authorities officers “haven’t gotten into their groove of how they’re going to print cash but.”
“They’re placing in all of the items” and “teasing other ways” through which they may print more cash, Hayes mentioned.
He predicts that by mid-2026 the market could have some extra readability across the Trump-Fed conflict. Particularly, whether or not Trump will hearth Powell for another person and who the subsequent Fed Chair will likely be.
After that, he believes the federal government will “go completely insane with how a lot cash they’re going to print.” He expects this printing to hold on till Trump leaves workplace.
That would result in a “protracted” crypto market cycle that breaks out of the same old 4-year development and lasts up till 2027 or 2028, he mentioned.
Hayes’ base case is that “we’re going to have an enormous bull market” for all of the sorts of monetary belongings related to something that Trump “believes is essential between now and when he exits workplace.”
The one factor that voters care about “is their pockets,” he mentioned. He subsequently argued that if voters really feel they aren’t “advancing economically” whereas Trump is in workplace, then they’ll simply choose “the opposite man.”
Hayes Prefers ETH Over SOL For This Cycle
Hayes mentioned each ETH and Solana are ”gonna go up,” however added that SOL will “in all probability not” beat ETH. Whereas ETH “is the larger asset to maneuver,” there’s “some huge cash chasing it,” he mentioned.
As such, Hayes says he can be “extra chubby ETH.”
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