Arthur Hayes Embraces Long Strategy, Metaplanet Wagers on Bitcoin Recovery – Increases Zcash Holdings
Hayes' Positioning: Arthur Hayes, co-founder of BitMEX, is positioning for a renewed Bitcoin rally by taking long positions in companies like Michael Saylor-backed Strategy and Japanese Bitcoin holder Metaplanet, while also building exposure to privacy token Zcash (ZEC).
Market Sentiment: Retail sentiment around Bitcoin remains extremely bullish, with a notable increase in chatter, while Zcash has seen a recent uptick in price following positive developments, despite some uncertainty in the market.
Zcash Accumulation: Hayes continues to accumulate Zcash, arguing that recent turmoil surrounding the project's development should not be viewed negatively, and he appreciates the opportunity to buy ZEC at discounted prices.
Future Outlook: Hayes emphasizes that his positioning depends on the expansion of dollar liquidity leading up to mid-term elections, and he has been rotating out of Ethereum into other decentralized finance projects.
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