Arthur Hayes says altcoin profits are being used to buy more Bitcoin

Arthur Hayes, co-founder of BitMEX, said on the crypto podcast The Rollup that his family office Maelstrom buys more Bitcoin with profits realized from trading altcoins such as ETH, adding that its Bitcoin holdings are overwhelmingly larger than its positions in other assets. Hayes said returns on scarce-value assets such as Bitcoin and on-chain businesses vary depending on entry price, market capitalization, and the degree of protocol and smart-contract risk investors are willing to take. He added that if AI agent demand drives a market-value re-rating, tokens with market capitalizations under $1 billion could generate higher returns than Bitcoin. Even so, Hayes said Maelstrom’s core strategy is to accumulate Bitcoin with profits generated from trading other assets. Meanwhile, crypto outlet Wu Blockchain added that Hayes’ past market calls have had a low hit rate and his views have shifted too frequently, suggesting readers focus more on his analytical framework than on specific price targets or timing forecasts.