Former BitMEX CEO Arthur Hayes explains why 2022 will be a big year for Ethereum, considering the network – after switching to proof-of-stake – will act as bonds linked to commodities On the other hand, the former CEO calls BTC “pure money,” which actually “does not yield any yields.”
Hayes sees Ethereum as a better investment for not only bitcoin, but better than most of the other L1 protocols, many of which are overvalued. Put Ethereum ahead of the competition
BitMEx co-founder Arthur Hayes isn’t shy about putting his faith in Ethereum inblog post Most recently, he stated that his 2022 allocation target would be 25% BTC and 75% ETH, following his previous allocation of 50% BTC and 50% ETH earlier this year.
Hayes has made such adjustments. Partly because he sees Bitcoin as money, while ETH, after its “merged” arrival, will become a commodity-linked bond.
“ETH is a commodity used to power computers. It’s not a financial tool.”
Hayes cited an analysis by Justin Drake, an ETH researcher atpredict that Those who stake will see approximately 8–11.5% APR after the change.
“Ethereum has 4,000 developers, which is three times more developers from any other chain, with the second largest developer pool being Polkadot.”
Finally, Hayes expects ETH to outperform any L1 chain claiming to be faster and cheaper than Ethereum, and Hayes has set a price target for Ethereum in 2022 of $10,000.
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