Arthur Hayes: His fund, Maelstrom, is almost fully invested.

On January 6, Arthur Hayes wrote that "his family crypto fund Maelstrom is entering 2026 with an almost fully invested risk level. Although we will continue to put idle cash from various financing transactions into Bitcoin, our USD stablecoin position is very low. To achieve performance beyond Bitcoin and Ethereum, I will sell Bitcoin to fund positions in the privacy sector and sell Ethereum to fund positions in the DeFi sector. In both cases, if my choices are correct, the altcoins I pick should perform well as fiat credit expands. If/when rising oil prices lead to a slowdown in credit creation, I hope to take profits, accumulate more Bitcoin, and buy some mETH."