Arthur Hayes: Maelstrom Buys the Dip on PENDLE and ETHFI, Expects Tactical Shorting Opportunity Before Bitcoin Reaches $1 Million

On May 15th, Arthur Hayes, the co-founder of BitMEX, published a new article. He said, "On a macro scale, as the Chief Investment Officer of Maelstrom, I have completed my work. I de-risked at the end of January and raised fiat currency. Then, from the end of March to early April, I gradually re-entered the market. During the financial market collapse week of Liberation Day, we went all-in on cryptocurrency exposure. Now is the time to decide which high-quality junk coins can outperform Bitcoin in the next stage of the bull market." He further added, "I believe that this time the market will reward junk coins that have real users, pay real money for a product or service, and protocols that return some of the profits to token holders. Two projects stood out. Maelstrom bought at the bottom, and they are PENDLE and ETHFI. Pendle will dominate in cryptocurrency fixed-income trading. In my view, this is the biggest unexploited opportunity in the crypto capital markets. Ether.fi will become the American Express of crypto, a prototype crypto financial institution for affluent holders. I will provide further comments on these junk coins in the forthcoming article." He also emphasized, "Just because I believe Bitcoin will reach $1 million does not mean there will be no tactical shorting opportunities. Capital controls and money printing are imminent, but the road from here to there is bumpy. The Trump team is not fully in support of capital controls. Therefore, those counting on Trump to take the empire in a different direction will have to regain their footing. Trump does not have a fixed ideology; he responds to constraints and winds his way to achieve his goals. Thus, the trend is your friend until it isn't."