Ethereum (ETH) could triple or quadruple in value rather quickly if investors begin buying one of the most unloved large-cap assets in crypto, BitMEX co-founder Arthur Hayes said on Friday.

Speaking in an interview with Cointelegraph, Hayes said, “My number one pick right now is Ethereum.” He said ETH offered a better risk-reward opportunity for capital entering crypto than Hyperliquid (HYPE), despite the expectation that HYPE would continue to rise. “I think Ethereum could do, you know, 3 to 5X pretty quickly,” he added.

Hayes Bets On Ethereum’s Comeback

When asked about the factors that were motivating his bullish outlook, he cited Ethereum’s relative underperformance since 2021. “Because everybody hates it,” he said….