Arthur Hayes Names Ethereum His ‘No. 1 Crypto Pick’, Sees ETH Surging 3X To 5X ‘Pretty Quickly’

Ethereum (ETH) could triple or quadruple in value rather quickly if investors begin buying one of the most unloved large-cap assets in crypto, BitMEX co-founder Arthur Hayes said on Friday.

Speaking in an interview with Cointelegraph, Hayes said, “My number one pick right now is Ethereum.” He said ETH offered a better risk-reward opportunity for capital entering crypto than Hyperliquid (HYPE), despite the expectation that HYPE would continue to rise. “I think Ethereum could do, you know, 3 to 5X pretty quickly,” he added.

Hayes Bets On Ethereum’s Comeback

When asked about the factors that were motivating his bullish outlook, he cited Ethereum's relative underperformance since 2021. “Because everybody hates it,” he said. “It’s the one mega-cap crypto that has not eclipsed its 2021 all-time high.”

In addition, Hayes spoke about Ethereum’s role as the foundation for decentralized finance and its large developer ecosystem, echoing Ethereum-bull Tom Lee’s call. However, he said that investors might need to see stronger price action before these fundamentals become the main focus in the market. The recent rise in both Ethereum and Bitcoin (BTC) prices showed that people were waiting to buy, added Hayes.