Arthur Hayes warns that the expiration of stock lockup periods and dilution pressure after SpaceX, Anthropic, and OpenAI go public could affect AI credit markets and USD liquidity in crypto.

In his article “D is for Dilution,” Hayes estimates that SpaceX could add around 8.6 billion shares to its outstanding stock by June 2027, representing an increase in supply of about 50%. Investors who buy Anthropic shares in its IPO could face dilution of up to 83% over the same period.

According to Hayes, dilution pressure could weaken stock prices, prompt bond investors to demand higher yields, and shrink AI-related credit markets. He said cooling demand for AI financing could also slow or shrink banks’ balance sheets, thereby reducing USD liquidity in crypto markets.

Hayes also noted that if an AI bubble leads to a financial crisis, major central banks could step in with a bailout. He said the fresh liquidity from these measures could drive Bitcoin and other crypto assets back up.

Source: https://tintucbitcoin.com/arthur-hayes-pha-loang-co-phieu-ai-gay-ap-luc-thanh-khoan-crypto/

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