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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 increased,” he mentioned. “I believe ETH goes ten, twenty thousand earlier than the tip of this cycle. As soon as it’s damaged by 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 increased.”
He sees Ethereum operating as much as $20K this cycle.
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% up 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 “might warrant adjusting our coverage stance,” thus suggesting rate of interest cuts are in play for September.
Ethereum Treasury Firms Principal Driving Drive
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 it is going to be simpler for these corporations to lift extra money, which can result in extra buys and subsequently ship the ETH value increased.
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.
Knowledge from StrategicETHReserve exhibits that 69 Ethereum treasury corporations at the moment 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 increased 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 alternative ways” during which they may print extra money, Hayes mentioned.
He predicts that by mid-2026 the market can 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 standard 4-year pattern and lasts up till 2027 or 2028, he mentioned.
Hayes’ base case is that “we’re going to have a large bull market” for all of the varieties of monetary belongings linked to something that Trump “believes is vital 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 don’t seem to be “advancing economically” whereas Trump is in workplace, then they may simply decide “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 “most likely 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 could be “extra chubby ETH.”
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