BitMEX co-founder and Bitcoin billionaire Arthur Hayes has repurchased Ethereum at a higher price just a week after selling millions worth of the token. Onchain data reveals that Hayes sold 2,373 ETH for about $8.32 million when prices hovered near $3,507, locking in profits before Ethereum’s recent rally.

In a swift turnaround, Hayes transferred $10.5 million in USDC on Saturday to buy back ETH at over $4,150, paying significantly more than his previous exit point. Posting on X, Hayes tagged Fundstrat’s Tom Lee, joking, “Had to buy it all back, do you forgive me? I pinky swear, I’ll never take profit again.”

Just last week, Hayes, also the CIO of Maelstrom Fund, warned that macroeconomic pressures could push Bitcoin down toward $100,000 and Ethereum to $3,000. He cited weak U.S. job growth, slowing credit expansion, and renewed tariff concerns as risks. Anticipating a correction, he sold over $13 million in crypto, including ETH, Ethena, and Pepe tokens.

Meanwhile, institutional interest in Ethereum has surged. Since July 10, over 1.035 million ETH worth around $4.17 billion has been accumulated by whales and institutions, according to EmberCN. This buying spree coincided with Ethereum’s 45% price jump from $2,600 to $4,000 in just a month. Analysts believe much of this ETH is being held by U.S. public companies and institutional players building reserves, with an average purchase price near $3,546.

Hayes’ quick reversal puts him in step with major market movers who appear increasingly bullish on Ethereum’s long-term prospects, even at elevated prices. With billions in institutional inflows and renewed retail optimism, ETH’s rally shows no signs of slowing, for now.