1️⃣ "The historic event": Offering shares at an astronomical valuation 💰
$ANTHROPIC is preparing to go public (IPO) on the Nasdaq under the ticker symbol "ANT" in a move that could be the biggest in Wall Street history. The company plans to raise up to $64.4 billion by selling around 825 million shares at a price of $70 to $78 per share. This valuation could put the company at $1.4 trillion, making it the first advanced AI lab to go public.
2️⃣ "The direct cause": Demand is six times greater than supply! 🔥
Here’s the surprise: demand for Anthropic shares isn’t just high—it exceeds supply by about six times! This means investors are rushing to get a piece of the "pie." But to get that piece, they need cash on hand immediately.
3️⃣ "Forced selling": Why are they selling Bitcoin? 📉
Large investors (whales) own plenty of assets, but they don’t have enough cash on hand to participate in an offering of this size. So they turn to liquidating assets that are easy to sell—first and foremost, cryptocurrencies like Bitcoin and Ethereum—to raise the necessary cash. This mass selling is what creates sharp downward pressure on crypto prices.
4️⃣ "The lesson": What happened with SpaceX? 🚀
This scenario isn’t new. In June 2026, when SpaceX offered its shares to the public, something similar happened. Bitcoin fell 19% in the lead-up to the offering, then dropped further immediately afterward. But it later recovered and rose again, gaining 28% over its closing price on the listing day 100 days after the offering. Historians believe Bitcoin’s pattern ahead of Anthropic’s offering (a decline of about 18%) closely resembles what happened before SpaceX went public.
5️⃣ "The paradox": Is the impact real or exaggerated? 🤔
Not everyone agrees that the offering is the main cause. Some analysts believe the impact is more "psychological" than "material." Direct commitments from individual investors to the offering amount to only about $12.9 billion (20% of the offering), less than the $22 billion SpaceX raised from individual investors. So the actual impact on liquidity may be smaller than some imagine, but fear and anticipation are prompting people to sell preemptively.
💡 The bottom line in two lines:
The Anthropic offering is a giant "liquidity magnet." Investors are selling crypto now to raise "cash" to participate in this historic event, creating temporary downward pressure. But history (with SpaceX) shows that this effect is often short-lived, and prices may recover once the "IPO frenzy" is over.
