Arthur Hayes sells 3 altcoin positions, rotates to energy stocks and Treasuries

Arthur Hayes has exited altcoin positions in NEAR, Worldcoin and Zcash while keeping his core Bitcoin and Ether holdings intact, rotating proceeds into US Treasuries and energy stocks.

Arthur Hayes sold his positions in NEAR, Worldcoin and Zcash, rotating the proceeds into US Treasuries and energy stocks, the former BitMEX CEO said in an essay published Tuesday.

"The scale of AI infrastructure financing is absorbing liquidity and creating conditions less supportive for higher-beta crypto trades," Hayes wrote in his "Reality Test" essay.

Hayes said he exited positions including NEAR Protocol, Worldcoin, Zcash and Hyperliquid. He remains structurally bullish on Bitcoin and Ether, keeping them as core long-term holdings. The shift reflects his view that debt tied to the AI buildout is distorting capital flows and delaying the next major crypto expansion.

The rotation suggests that even prominent crypto bulls see a near-term environment where altcoins may struggle before macro liquidity improves. Hayes' long-term Bitcoin target remains at $1 million, tied to eventual policy response and currency debasement.

Why It Matters

The portfolio move from a well-known crypto figure could trigger selling pressure on NEAR, Worldcoin and Zcash as retail traders follow his lead. The shift toward Treasuries signals a cautious macro outlook that may dampen altcoin sentiment broadly. Hayes' continued holding of Bitcoin and Ether provides some support for the largest crypto assets, but the altcoin rotation underscores a view that mid-cap tokens face headwinds until credit conditions ease and fresh liquidity re-enters the system.

This article is for informational purposes only and does not constitute investment advice.