In a macro-focused interview with the Bankless podcast, Arthur Hayes, the former BitMEX CEO and current Maelstrom CIO, laid out his bullish thesis on Ethereum, arguing that a move to $10,000 or even $15,000 is a realistic outcome as global liquidity shifts and capital controls take hold in the next monetary regime.<\/p>\n
Asked why ETH had rallied over 50% in a week, Hayes dismissed<\/a> technical triggers and pointed instead to sentiment. \u201cThe most hated asset goes up the fastest in the next cycle,\u201d he said. \u201cIt\u2019s just human nature.\u201d For Hayes, the Ethereum comeback was long overdue after years of being overshadowed by Solana and other high-beta tokens. \u201cETH was kind of dead. Everyone hated it. The BTC\/ETH ratio was falling, Solana<\/a> was running\u2026 it was time.\u201d<\/p>\n Despite not having added to his position, Hayes said he remained long Ethereum and was unfazed by the current price. \u201cIt\u2019s great it\u2019s going up, but okay\u2014let\u2019s talk at $10,000 or $15,000. Let\u2019s talk when it\u2019s meaningful.\u201d<\/p>\n Hayes placed Ethereum\u2019s rebound in the broader context of what he calls a global monetary \u201cphase shift\u201d<\/a>\u2014a transition away from the US Treasury as the world\u2019s reserve asset, toward a bifurcated system where store-of-value flows increasingly shift toward gold and Bitcoin. In this paradigm, Ethereum benefits not just from speculative risk flows, but also from structural changes in how capital moves under increasing financial repression and capital controls.<\/p>\nWhy Ethereum Could Soar To $10,000<\/h2>\n