Arthur Hayes, co-founder of crypto derivatives exchange BitMEX, believes the time has come for a meme coin breakout. As a result, he has added some tokens to his portfolio to maximize his returns.<\/p>\n
A series of tweets from the American entrepreneur revealed that he has been purchasing several meme coins, including Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG).<\/p>\n
Earlier this week, Hayes posted<\/a> a tweet asking American rapper and celebrity Iggy Azalea, also the creator<\/a> of MOTHER, if she could be his mother \u2013 a move aimed at expressing his support for the songwriter\u2019s token.<\/p>\n Hayes admitted he was wrong about his prediction<\/a> that the recent Federal Reserve rate cut would strengthen the Japanese yen and crash risk assets like bitcoin (BTC). Since the cryptocurrency held up well over the last weekend, he believed it was an opportunity to let the good times roll.<\/p>\n \u201cTime to trade some dogshit meme coins,\u201d he added.<\/p>\n In subsequent posts, Hayes stated<\/a> that he doubled his MOTHER position, is \u201cmartingale\u2019ing\u201d the token, and looks forward to the meme coin\u2019s market cap skyrocketing<\/a> to $1 billion. Data from CoinMarketCap showed<\/a> Mother Iggy\u2019s market cap stands at $986 million at the time of writing.<\/p>\n In the early hours of Friday, Hayes disclosed<\/a> that he is also acquiring more MOG and PEPE, inviting his friend to join the spree. On-chain data accessed by blockchain intelligence platform Lookonchain indicated<\/a> that Hayes has already withdrawn 24.39 billion PEPE worth roughly $252,680 from crypto exchange Binance.<\/p>\n \u201cIt\u2019s time for a memecoin breakout. I respect my $MOTHER, I $MOG like no one else, but I can\u2019t neglect $PEPE. Yachtzee Bitches!\u201d Hayes stated<\/a>.<\/p>\n A separate tweet from Lookonchain revealed<\/a> that Hayes is not just bullish on meme coins. The crypto enthusiast has been purchasing millions of Aethir (ATH), the native token of the decentralized cloud infrastructure project Aethir, since mid-August.<\/p>\n Most of the funds used to purchase ATH have come from the sales of Hayes\u2019 Pendle (PENDLE) stash. The entrepreneur said<\/a> his family office fund, Maelstrom, has been reducing its PENDLE position to fund a \u201cspecial situation.\u201d Regardless of the sales, the fund still believes PENDLE has the potential to lead the crypto interest rate derivatives market; hence, Hayes remains bullish on the asset.<\/p>\n Following Hayes\u2019 latest ATH purchase Friday morning, the BitMEX co-founder\u2019s stash has grown to 116.63 million ATH worth approximately $7.5 million.<\/p>\n The post Arthur Hayes Says It\u2019s Time for a Meme Coin Breakout: These Are His Latest Buys<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Arthur Hayes, co-founder of crypto derivatives exchange BitMEX, believes the time has come for a meme coin breakout. As a result, he has added some tokens to his portfolio to maximize his returns. A series of tweets from the American entrepreneur revealed that he has been purchasing several meme coins, including Pepe (PEPE), Mother Iggy […]<\/p>\n","protected":false},"author":0,"featured_media":10028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10027"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10027"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/10028"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Not Just Meme Coins<\/h2>\n