Arthur Hayes, the co-founder of BitMEX, has recently re-entered the meme coin sector, placing a notable bet on Goatseus Maximus (GOAT), a Solana-based meme coin. In just one week, the price of GOAT surged by 270%, capturing significant attention in the crypto market. Hayes, who had previously reduced his exposure to meme coins, explained the reasoning behind his return to this speculative space.

Arthur Hayes’ Bold Return to Meme Coins

Although Hayes had previously expressed caution about meme coins, particularly amidst global uncertainties, his recent endorsement of GOAT shows that his risk-taking tendencies remain intact.

Why Arthur Hayes Had Briefly Exited the Meme Coin Space

Earlier, Hayes had stepped away from the meme coin space, citing growing geopolitical tensions as a major factor. In a recent blog post, he mentioned the escalating conflict between Israel and Iran, which prompted him to reduce his exposure to risky assets. He stated:

“As some of you may know, I had exposure to several meme coins. When Iran launched its recent missile strikes on Israel, I significantly reduced these positions. Given the unpredictability of how crypto assets will react to increasing hostilities in the short term, I realized my position size was too large. I knew it was too large because I would have been furious if I lost 100% of the money I had invested in a bunch of joke cryptos.”

What Does Arthur Hayes Know About Goatseus Maximus?

Despite his previous caution, Hayes was recently mocked by a user for his support of Goatseus Maximus (GOAT). Hayes responded by affirming that he still enjoys taking risks, even going as far as labeling himself a “Degen” (short for degenerate). This shows his willingness to re-engage in speculative betting within the meme coin arena.

GOAT Price Skyrockets by 270% in One Week

Arthur Hayes’ move back into the meme coin market signals his continued belief in the potential of these speculative tokens. As The Bit Journal notes, GOAT‘s significant rally is one of the biggest success stories in the meme coin market this week, raising further curiosity about the token’s future performance.

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