In brief
- Crypto mogul Arthur Hayes previously predicted that Ethereum would hit $5,000 per coin this year.
- He now thinks it will soar to $10,000, following the coin’s recent surge.
- Hayes argues in a blog post that credit expansion in the U.S. will cause the digital coin’s surge.
Ethereum has made a comeback, recently hitting its highest price this year—but it still has plenty of room to run, according to crypto mogul Arthur Hayes.
In a new blog post by the co-founder and former chief of crypto exchange BitMEX, Hayes argues that the second biggest digital coin by market cap could reach $10,000 by the end of the year. That’s more than double the coin’s all-time high price.
ETH was recently trading for $3,590 per coin, according to CoinGecko, down slightly after hitting that 2025 high on Monday of $3,844. The coin is still 27% below its 2021 record of $4,878.
“The coming ETH bull run is about to tear the market a new asshole,” wrote Hayes. “Ever since Solana rose from the FTX ashes from $7 to $280, ETH has been the most hated large-cap crypto.”
He added that despite struggling last year, ETH was now popular with “the Western institutional investor class”—and would now go higher.
Speculators have increasingly thrown cash at ETH exchange-traded funds in the U.S. over the past week. Last Wednesday, investors pumped $726 million into the new products—the best trading day in their short history—with over $2.1 billion across the entire week, also a record.
Hayes argued that the government would increase the amount of debt within the economy to boost industrial production for weapons manufacturing, ultimately benefiting the crypto space—with Bitcoin and ETH in particular surging as a result.
He pointed to 2020 when “credit growth doubled, and Bitcoin increased 15 times in response.”
Hayes argued that this would ultimately benefit “a broader, more diverse set of people who are pleased with the ruling party’s economic platform.”
In a May interview with Decrypt at the Bitcoin 2025 conference, Hayes projected an Ethereum price between $4,000 and $5,000 for this year. But given the recent 52% surge for ETH over the last 30 days, he’s apparently feeling even more bullish now.
The billionaire continued to predict a $250,000 year-end price for Bitcoin in his latest blog post. That’s more than double the current mark.
Myriad users are likewise bullish on the prospect of Ethereum rising to a new all-time high price in the coming months, currently giving it a 60% chance by the end of the year. (Disclosure: Myriad is a product of Decrypt‘s parent company, DASTAN.)
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