Arthur Hayes, the co-founder of BitMEX, has reaffirmed his conviction that Bitcoin is on a long-term path toward $1 million by the end of the decade — yet the veteran trader says his capital is flowing into Ethereum instead, betting that ETH holds far greater upside in the near term.
Bitcoin's Steady Climb
Hayes remains bullish on Bitcoin's trajectory, describing it as an asset likely to "grind higher" rather than explode overnight. In his view, the cryptocurrency benefits from macroeconomic conditions, ongoing monetary debasement, and steady institutional adoption that together support a sustained upward move over the coming years.
His projection of Bitcoin reaching seven figures by 2030 places him among the more optimistic voices in the industry, though he frames the ascent as gradual rather than parabolic. For Hayes, the question is less about whether Bitcoin rises and more about how quickly investors can compound their gains elsewhere.
"Bitcoin will grind higher, but Ether is my number one pick for a 3x to 5x move pretty quickly."
Why Ethereum Tops His List
Despite his faith in Bitcoin, Hayes has singled out Ethereum as his top pick, arguing it could deliver a return of three to five times its current value in a relatively short window. That outperformance potential, he contends, makes ETH the more attractive allocation for traders seeking outsized gains.
The reasoning reflects a common thesis among altcoin bulls: while Bitcoin serves as a store of value and a slower-moving benchmark, smart-contract platforms like Ethereum offer more explosive growth as adoption, staking, and on-chain activity expand.
Hayes points to several factors underpinning his enthusiasm for the second-largest cryptocurrency:
- Greater relative upside compared with Bitcoin over the near term
- Continued growth in Ethereum's ecosystem and utility
- Momentum that could drive a rapid revaluation
As with any forecast from a prominent trader, Hayes's calls carry the weight of his track record but remain speculative. Investors weighing his outlook face the perennial crypto trade-off between Bitcoin's perceived stability and Ethereum's higher-risk, higher-reward profile.