On August 25, Arthur Hayes stated that the Maelstrom Fund is currently in a "maximum risk exposure" state, with core bets including Bitcoin, Ether, Ethena, and Ether.fi. Hayes believes that regardless of whether U.S. Treasury Secretary Yellen increases dollar liquidity quickly or slowly, Bitcoin will continue to rise, although market volatility will also intensify. Therefore, unless one is a full-time trader, leverage should not be used. Hayes also noted that Yellen's recent expansion of long-term U.S. Treasury bond repurchases could further increase dollar liquidity and drive up Bitcoin and other risk assets. He anticipates that if U.S. Treasury yields approach 5% again, the Treasury may further expand repurchase activities or take other measures to increase dollar liquidity.
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Arthur Hayes: Maelstrom Fund Fully Invested in Risk Assets with Focus on Bitcoin and Ethereum
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