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.
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