Hayes apologized for calling Ethereum a shitcoin

Hayes apologized for calling Ethereum a shitcoin 2023


Source: a video screenshot

Former Bitmax CEO Arthur Hayes has apologized for calling Ethereum (ETH) a shitcoin years ago, arguing that the merger is “very bullish” for Ethereum’s price.

In his latest article, Hayes looked back on his previous comments on Ethereum and also spoke enthusiastically about the expected merger, when Ethereum switches from a proof-of-work mechanism to a proof-of-stake (PoS).

Regarding the past, he apologized for his previous statements and said:

“Readers who have followed my career as a columnist will remember that I talked about the Ethereum presale and said it was worthless. I was wrong, please God forgive me.”

He pointed to his 2018 article “Ether, A Double-Digit Shitcoin” in which he predicted that the price of Ethereum would fall below $100.

Hayes stated that the consolidation is “very bullish” for the Ethereum price. Hayes went on to say that he is “more confident today than ever that the merger will actually happen.”

After merging, miners’ machines become worthless unless they can mine on another valuable chain. Famous miner Chandler Guo has already talked about an Ethereum hard fork, a fork that will maintain a PoW chain.


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