BitMEX founder Arthur Hayes warned that the sell-off in stocks following the IPOs of major technology and AI companies like SpaceX, Anthropic, and OpenAI could negatively impact the cryptocurrency market.
Hayes stated that the large amount of shares these companies could release into circulation after their initial public offerings could put downward pressure on prices in the technology sector.
According to Hayes’ assessment, it is possible for approximately 8.6 billion shares of SpaceX to be released from sales restrictions by the end of June 2027. He suggested that this development could increase the amount of shares in circulation by about 50 percent.
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He stated that investors who participated in Anthropic’s IPO in the early stages could face a dilution of shares of approximately 83 percent.
Hayes stated that OpenAI could also gradually release shares held by its employees and early investors into circulation following a potential IPO.
Hayes argued that these developments could put downward pressure on AI companies’ share prices, noting that weakness in technology stocks could increase financing costs.
According to Hayes, tightening conditions in the relevant credit markets could lead to a decrease in US dollar liquidity. Such a scenario could negatively impact Bitcoin (BTC) and other crypto assets.
However, Hayes said that a different picture could emerge if the US Federal Reserve (Fed) and other major central banks were to provide liquidity to the market in response to a potential financial crisis.
According to the analyst, expansionary measures by central banks could support the prices of Bitcoin and other crypto assets.
Hayes’s assessments are based on potential scenarios depending on IPO processes, share offerings, and global liquidity conditions, rather than finalized developments.
*This is not investment advice.
