Arthur Hayes Boosts Portfolio with Meme Coins and Aethir Tokens

Arthur Hayes, the co-founder of the crypto derivatives platform BitMEX, asserts that meme coins are poised for a significant surge. To capitalize on this potential, he has been incorporating various tokens into his investment strategy.

In a series of tweets, the American entrepreneur disclosed his recent purchases of several meme coins, including Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG).

Are We Entering a Meme Coin Season?

This week, Hayes tweeted to American rapper and celebrity Iggy Azalea, the creator of MOTHER, asking her to be his mother—demonstrating his support for the artist’s token.

Hayes acknowledged that he miscalculated regarding the impact of the recent Federal Reserve rate cut on the Japanese yen and its implications for risk assets like bitcoin (BTC). Observing that cryptocurrency performed well over the weekend, he felt it was an ideal time to embrace the market’s upward momentum.

“Time to trade some dogshit meme coins,” he remarked.

In subsequent tweets, Hayes mentioned that he has increased his MOTHER holdings, is engaging in a strategy to average down on the token, and anticipates the meme coin’s market cap soaring to $1 billion. According to CoinMarketCap data, Mother Iggy’s market cap is currently around $986 million.

In the early hours of Friday, Hayes revealed that he is also acquiring additional MOG and PEPE tokens, encouraging his friend to join in. On-chain data from blockchain intelligence platform Lookonchain showed that Hayes has withdrawn 24.39 billion PEPE, valued at approximately $252,680, from the Binance exchange.

“It’s time for a memecoin breakout. I respect my $MOTHER, I $MOG like nobody else, but I can’t overlook $PEPE. Yachtzee Bitches!” Hayes stated.

Beyond Meme Coins

An additional tweet from Lookonchain indicated that Hayes is not solely focused on meme coins. He has been accumulating millions of Aethir (ATH), the native token of the decentralized cloud infrastructure project Aethir, since mid-August.

Most of the funds for these ATH purchases have come from the liquidation of Hayes’ Pendle (PENDLE) holdings. The entrepreneur revealed that his family office fund, Maelstrom, has been reducing its PENDLE position to support a “special situation.” Despite these sales, Hayes remains optimistic about PENDLE’s prospects in the crypto interest rate derivatives market.

Following his latest ATH buy on Friday morning, Hayes’ total holdings in ATH have grown to 116.63 million, valued at about $7.5 million.