TLDR
Arthur Hayes projects Ethereum to reach $20,000 in the current market cycle
Hayes confirmed repurchasing ETH during the recent market decline
Tom Lee’s BitMine signals confidence by reposting Hayes’ interview
BitMine recently acquired an additional 52,475 ETH worth $220 million
Corporate entities now hold over 4.1 million ETH (3.39% of total supply), valued at $17 billion
Arthur Hayes, co-founder of BitMEX, has made a bold prediction that Ethereum (ETH) could reach $20,000 during the current market cycle. This forecast comes after Hayes confirmed he repurchased ETH during the recent market downturn.
Hayes pointed to increasing capital inflows into digital asset treasuries as a key driver for his optimistic outlook. When asked whether he preferred ETH or Solana for the remainder of the bull cycle, Hayes stated he remains “overweight ETH,” emphasizing Ethereum’s strong market position and growing institutional demand.
The BitMEX co-founder linked his outlook to broader macroeconomic conditions and political factors that may influence market liquidity. “The only thing voters care about is their wallet,” Hayes remarked, suggesting that pro-growth policies could further fuel asset markets.
ETH https://t.co/42KUazBoyQ
— Bitmine BMNR (@BitMNR) August 21, 2025
Earlier this month, Hayes had liquidated over $13.35 million worth of digital assets. Data showed he sold approximately 2,373 ETH valued at $8.32 million, alongside sales of PEPE and ENA tokens, before making his recent repurchase.
Institutional Backing Grows
Tom Lee’s crypto investment firm BitMine has reinforced Hayes’s bullish sentiment by reposting his interview. This signals BitMine’s own confidence in Ethereum’s upside potential.
Despite recent sell-offs in the market, including BlackRock liquidating $254 million in ETH, BitMine has taken a contrarian approach. The firm recently purchased an additional 52,475 ETH for $220 million, bringing their total holdings to 1.57 million ETH valued at approximately $6.6 billion.
This acquisition positions BitMine among the largest corporate Ethereum holders. Their investment strategy aligns with the growing trend of institutional adoption of Ethereum as a long-term store of value.
Coinbase Asset Management CIO Eric Peters has also expressed optimism about Ethereum’s future. In a recent interview with Bankless, Peters described ETH as the backbone of future financial infrastructure, stating, “The whole financial system is going to move to ETH as a foundational layer.”
Corporate groups now collectively hold more than 4.1 million ETH, representing 3.39% of the total supply. This growing institutional interest provides additional support for Hayes’s bullish price target.
At the time of reporting, Ethereum is trading around $4,300, having pulled back slightly after approaching its all-time high earlier this month. Trading volumes have decreased by approximately 32% in the last 24 hours, indicating cautious investor sentiment during the current market downturn.
Hayes’s $20,000 price prediction represents a potential 365% increase from current levels. While this forecast may seem ambitious, the increasing institutional adoption of Ethereum lends credibility to the possibility of such price movement within the current market cycle.
The convergence of individual investor confidence, as demonstrated by Hayes, and institutional backing from firms like BitMine suggests growing consensus around Ethereum’s long-term value proposition in the cryptocurrency ecosystem.
