Anthropic IPO Could Be Bitcoin's Next Catalyst: Arthur Hayes Turns 'Mini-Bulled Up' Ahead Of Nasdaq Listing

Arthur Hayes, CEO of Flop Labs, said he has "mini-bulled up" on crypto ahead of Anthropic's (ANT) Nasdaq listing next week, with analysts at Bitfinex Alpha saying that this could be the next big thing for Bitcoin (BTC).

Hayes said on X late on Wednesday that he thinks Anthropic’s initial public offering (IPO) will "rip." He said he was adding crypto risk ahead of the listing date, which, according to him, is next week. He keeps his positions small to medium-sized so he can get out quickly if he needs to. Hayes said he felt "mini-bulled up."

Hayes predicted, earlier this month, that Anthropic IPO investors could see 83% dilution by June 2027, saying that the stock would be "almost mathematically impossible" to gain before then.

Bitcoin Doesn't Rally With Stocks

Hayes' wager was coming at a time when Bitcoin has struggled to keep pace with U.S. stocks. Since Oct. 6, when the tech-heavy Nasdaq 100 index hit its high point, Bitcoin has absorbed 91% of the Nasdaq 100's loss days, Bitfinex analysts said in their weekly Bitfinex Alpha report. Over that period, it captured just 58% of the index's gains on days when it rose.

The analysts attributed the pattern to weak demand. Buying from exchange-traded funds (ETFs) and corporate treasuries has slowed down, so there isn't a steady buyer to move gains from stocks into crypto, according to analysts.