Arthur Hayes says he’s expecting a steady grind higher for Bitcoin, targeting $1 million by 2030. But when it comes to where he’s actually putting his money, Hayes is all-in on Ethereum. In his view, ETH is his top pick because it has the potential to “pretty quickly” 3–5x from here.

BTC: Long-Term Target, Slow and Steady Climb

Hayes thinks Bitcoin will keep “paving the way” upward from current levels, but without any wild price swings. He’s got his eyes set on $1 million by 2030 as a long-term target. He doesn’t point to any specific catalysts—just a gradual, methodical move higher over time.

ETH: Main Bet Thanks to 3–5x Upside

Even though he’s bullish on BTC, Hayes is more focused on building his Ethereum position. He says it’s all about risk/reward: ETH could see a 3–5x run “relatively quickly,” which makes it his top play over Bitcoin right now.

So, Hayes is pairing cautious optimism on BTC for the long haul with a hunt for bigger, faster returns through ETH. He hasn’t given a timeline for when he expects Ethereum to pop, but it’s clearly his priority for outsized gains.