The BitMEX co-founder, known for his bold forecasts, admitted last weekend that he sold all of his HYPE holdings to cover a deposit on Ferrari’s upcoming 849 Testarossa. Blockchain trackers estimate the sale netted him a six-figure profit, with his wallet offloading just under 100,000 tokens.

A Rapidly Rising Token

Hyperliquid has been one of 2025’s standout performers. Launched late last year near $6.50, its native coin soared to almost $50 in recent weeks, helped by explosive growth on the decentralized derivatives platform it powers. At its peak in August, daily volumes crossed $3 billion – a huge jump from the half-billion seen only weeks earlier.

Predictions vs. Practice

The sale is striking because Hayes himself had been one of HYPE’s loudest champions. Speaking at a Tokyo conference in August, he painted a scenario where the token’s value could balloon 126 times over three years, driven by fiat debasement and a boom in stablecoin demand. He even suggested the exchange could one day rake in hundreds of billions in annualized fees.

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Yet Hayes is no stranger to contradictions. Alongside his HYPE enthusiasm, he has recently projected Bitcoin at $250,000 by the end of 2025 and declared that crypto markets will soon flip into “up only” mode once U.S. Treasury liquidity issues subside.

The Lesson for Traders

Whether Hayes returns to Hyperliquid remains unclear. What is clear is that his actions stirred debate among traders about which matters more: his public calls or his on-chain activity. For many in crypto, the Ferrari episode is another reminder that following personalities can be riskier than following the data.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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