Arthur Hayes takes on a strategic role at Upexi and Solana gains new momentum
- Arthur Hayes joins Upexi's advisory committee
- BitMine Plans to Invest $20 Billion in Ethereum
- Solana and Ethereum attract attention from major investors
BitMEX co-founder and Maelstrom CIO Arthur Hayes has returned to the spotlight after being dubbed the "Tom Lee of Solana" with his appointment to the advisory committee of Upexi, a Solana (SOL)-based treasury firm. The news was reported on X, where Upexi announced that Hayes will be the first member of this committee, just days after adding $7,43 million in altcoins to its portfolio. Solana is currently trading at $198,97, up 13% in the last 24 hours.
According to Upexi itself, the committee's goal is to "add value for shareholders and accelerate the adoption of Solana as a fundamental infrastructure for the decentralized future." Hayes is expected to contribute additional capital to Solana's treasury, strengthen the business strategy, and increase the company's visibility. Comparisons to Tom Lee have emerged due to the impact he has had on the Ethereum ecosystem.
Upexi noted that, as founder of BitMEX, Hayes established himself as one of the "most iconic and respected voices" in the industry, offering expertise in macroeconomic analysis and digital asset strategy. BitMEX remains a global benchmark for futures and perpetual swaps trading.
At the same time, Hayes made a curious proposal at X: he suggested that Tom Lee be appointed head of the Ethereum Foundation, replacing Aya Miyaguchi, the current president since March 2025. Lee, known among institutional investors and the leader of Fundstrat Capital, also chairs BitMine, the third-largest holder of cryptocurrency assets in the world.
BitMine Immersion Technologies recently revealed its holdings of 1.150.263 ETH and announced its intention to acquire an additional $20 billion worth of Ethereum. With ETH currently priced at around $4.300, the purchase could secure the company approximately 5% of the total Ether supply.
The move puts BitMine and Tom Lee on par with MicroStrategy and Michael Saylor in the Bitcoin market. According to analyst Merlijin the Trader, Ethereum is close to breaking through a resistance level of $4.500, which could pave the way for further appreciation, driven by Wall Street, retail, and growing global adoption.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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