BitMEX co-founder Arthur Hayes has sold his entire Hyperliquid (HYPE) stash for a Ferrari, just a month after predicting the token would surge 126x in three years. Hayes made $823,000 in profit on his 96,628 HYPE, with a 19.2% gain. The Ferrari 849 Testarossa is priced at up to $590,000.

HYPE, the token for the Hyperliquid decentralized derivatives exchange, was trading at $49.48 and has surged 660% since launching in November at $6.51. The DEX has seen trading volume rise from $560 million in August to an all-time high of $3.4 billion on Aug. 24. Hayes forecasted HYPE’s price to surge 126x over three years.

Hayes argued that continued fiat debasement would drive stablecoin market expansion, potentially pushing HyperLiquid’s annualized fees to $255 billion from $1.2 billion. Hayes has not indicated if he will reinvest in HYPE. He also predicted the crypto markets would soon enter “up only” mode and Bitcoin hitting $250,000 by 2025.

Hayes has a history of making bold market predictions and is unfazed when his Bitcoin predictions are wrong. Some in the crypto community emphasize paying attention to what popular figures do onchain, rather than what they say publicly. Hayes believes predictions don’t matter in the long run.

Read more at CoinTelegraph: Arthur Hayes Sold Hyperliquid For Ferrari