BitMEX Co-Founder Arthur Hayes Sells All HYPE Tokens to Fund Ferrari Purchase

BitMEX co-founder Arthur Hayes has liquidated his entire position in HYPE, with the proceeds earmarked for a new luxury vehicle.

Key Takeaways:

• Arthur Hayes sold his entire HYPE holding for an $823,000 profit, citing the need to fund a Ferrari purchase.
• The sale occurred just weeks after he predicted a 126x surge in HYPE at WebX 2025.
• Significant upcoming token unlocks could introduce $500 million in monthly sell pressure to the market.

“Need to pay my deposit on the new Rari 849 Testarossa,” Hayes posted on X on Sept. 21, shortly after on-chain analytics firm Lookonchain reported that he had sold his full HYPE stack, netting approximately $823,000 in profit.

The transaction involved 96,628 HYPE tokens, yielding a 19.2% return according to data from HypurrScan.

Hayes Predicted 126x HYPE Surge Weeks Before Cashing Out

The timing of the sale has drawn attention. Just last month, during the WebX 2025 conference in Tokyo, Hayes publicly forecasted that HYPE could surge 126x over the next three years.

At the time, he linked this bullish outlook to the expanding ecosystem of Hyperliquid and the anticipated growth of the stablecoin market.

He argued that annualized fees on the platform could grow from $1.2 billion to $255 billion, suggesting that fiat currency debasement would drive capital into decentralized finance (DeFi) derivatives.

Despite this bold forecast, Hayes appears to have secured profits early, a move supported by fundamental concerns.

According to research shared by Maelstrom, Hyperliquid is facing a massive token unlock event beginning November 29, when 237.8 million HYPE tokens will start vesting over a 24-month period.

At current prices of approximately $50, this unlock represents a value of $11.9 billion, translating to roughly $500 million in monthly sell pressure.

With current buybacks absorbing only about 17% of that volume, the market faces a significant 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?”

This is why we dumped $HYPE today. But don’t worry 126x is still possible 2028 is a long way off. https://t.co/VLSISNzbcc

— Arthur Hayes (@CryptoHayes) September 22, 2025

Meanwhile, Hayes continues to offer broader market commentary. He recently stated that “up only can resume” now that the U.S. Treasury has met its $850 billion General Account target, a liquidity event he believes paves the way for crypto growth.

He remains committed to a $250,000 Bitcoin price target by the end of 2025.

As for HYPE, the token is still up over 660% since its launch, but with unlocks looming and competitors emerging, Hyperliquid may be approaching its most significant test yet.

Arthur Hayes Warns Bitcoin Is Not a Shortcut to a Lambo

Hayes has criticized Bitcoin investors for chasing quick riches and making flawed comparisons to traditional markets.

In a recent interview, he highlighted the dangers of a short-term mindset, noting that expectations of overnight wealth are leading many traders to get liquidated.

“If you thought you were buying Bitcoin and the next day you were buying a Lamborghini, you’re probably getting liquidated,” Hayes warned.

While Bitcoin has lagged behind the S&P 500 and gold in recent weeks, Hayes dismissed these comparisons as inaccurate.

He argued that Bitcoin remains the top-performing asset when adjusted for inflation and currency debasement, claiming that most traditional markets appear far weaker when measured against Bitcoin or gold.

“If you deflate things by Bitcoin, you can’t even see it on the chart,” he added.

Despite recent volatility, Hayes maintains his long-term view and stands by his year-end price target of $250,000 for Bitcoin.