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Hayes Asks ‘Forgiveness’ for Calling Ethereum a Shitcoin, Doubles Down on ETH

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Former BitMEX CEO Arthur Hayes apologized for calling Ethereum (ETH) a shitcoin years ago and argued that the Merge is “extremely bullish” for the price of ETH.In his latest essay, Hayes took a look back at his previous statements on Ethereum, as well as a look forward to discuss the upcoming, long-awaited, and much-anticipated Merge, when Ethereum will switch from the current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS).As for the past, he apologized for his earlier statements, saying:“Readers who have been following my career as an essayist will remember I shat all over the Ethereum pre-sale.

I said it was worthless. I was wrong. Please forgive me, o lord!”He referred to his 2018 essay titled “Ether, A Double Digit Shitcoin”, in which he predicted that the price of ETH would dive below USD 100, saying: “And I was right!

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