BitMEX co-founder Arthur Hayes has exited his entire HYPE position, with the profits funding his next luxury ride.
“Need to pay my deposit on the new Rari 849 Testarossa,” Hayes posted on X on Sept. 21, shortly after Lookonchain reported that he sold his full HYPE stack, netting around $823,000 in profit. The sale involved 96,628 HYPE tokens, giving him a 19.2% return according to HypurrScan data.
He claimed annualized fees on the platform could grow from $1.2 billion to $255 billion, arguing that fiat debasement would drive capital into DeFi derivatives. According to research shared by Maelstrom, Hyperliquid faces a massive token unlock event starting November 29, when 237.8 million HYPE tokens will begin vesting over 24 months.
The timing raised eyebrows. Just last month, during the WebX 2025 conference in Tokyo, Hayes publicly predicted that HYPE could surge 126x over the next three years.
With current buybacks only absorbing about 17% of that volume, the market is staring down a serious supply overhang. “Put yourself in the shoes of a Hyperliquid dev,” Maelstrom posted. “A life-changing sum in tokens is starting to vest; and it’s only one click away. What would you do?”
At current prices (~$50), that unlock represents $11.9 billion, or around $500 million in monthly sell pressure.
He’s also sticking to a $250,000 Bitcoin price target by the end of 2025. As for HYPE, the token is still up over 660% since launch, but with unlocks looming and competitors circling, Hyperliquid may be about to face its biggest test yet.
Meanwhile, Hayes continues to issue broader market predictions. He recently declared that “up only can resume” now that the U.S. Treasury has met its $850 billion General Account target, a liquidity event he believes clears the way for crypto growth.
