Investor predicts crypto to $10 but dumps millions below $4 – Why?
Arthur Hayes is the co-founder of BitMex, a cryptocurrency investor, and an influencer with half a million followers on X. Recently bullish on Pendle (PENDLE), Hayes surprised the market by offloading over half his position far below the $10 target. On September 11, Hayes made a bullish post on PENDLE, predicting a $10 target when integrated with Bitcoin (BTC) DeFi. Ten days later, however, he publicly disclosed that Maelstrom Fund, Arthur Hayes’s family office fund, was reducing its PENDLE position. “As you can see Maelstrom Fund is reducing its PENDLE position. Even after the reduction it is still one of our largest positions. We still fully believe that PENDLE will be the leader in crypto interest rate derivatives. And we plan to profit off of their success. We have reduced our position to fund a special situation. Those who monitor our wallets will get a glimpse as to what that is in the very near future.” – Arthur Hayes, on X ...