Arthur Hayes, co-founder of venture capital firm Maelstrom, has sold his holdings in Worldcoin (WLD) just days after his firm promoted it as a key investment in the AI sector. Hayes shared his decision on social media platform X, pointing to a troubling market trend as his reason for exiting the position. “This chart is going in the wrong direction,” he stated, along with a chart that showed a notable decline in the SpaceX pre-IPO perpetual futures contract. In a straightforward follow-up, he declared, “Dumped WLD. I’m out. See y’all at the clerb.”
The timing of this sale is significant, coming right after a positive review from Maelstrom researcher Lukas Ruppert, who called WLD an “overlooked” opportunity ahead of AI mega IPOs, predicting a price increase to $5 by August. Following this optimistic assessment, WLD experienced a brief spike, reaching $0.60 on June 5, but quickly fell to $0.40 by June 7, coinciding with Hayes's exit announcement. This volatility raises questions about the durability of investor confidence in Worldcoin amid changing market conditions.
Interestingly, Hayes had previously expressed plans to retain his WLD holdings through the upcoming SpaceX IPO, scheduled for June 12. This sudden shift in strategy has attracted attention, especially as it mirrors a broader trend of swift changes in his investment tactics. In the past, Hayes has made bold predictions—such as estimating Hyperliquid (HYPE) would rise to $150 by August—only to sell shortly after, often citing external factors like geopolitical tensions and market corrections. He has also raised concerns about the viability of several crypto assets, recently labeling the “Holy Trinity” of HYPE, Zcash (ZEC), and Near (NEAR) as “dead.”
Despite the recent sell-off, it seems Hayes may not be completely giving up on his bullish outlook for HYPE. A wallet linked to him reportedly acquired about 33,978 HYPE tokens valued at around $2 million shortly after its price dropped by 26% following his earlier sale. This indicates a possible strategy of opportunistic buying in a volatile market, even as he distances himself from Worldcoin.
The swift changes in WLD's price underscore the unpredictability of the crypto market, especially as investors consider the implications of upcoming IPOs in the AI sector. With major launches on the horizon, including the highly anticipated SpaceX IPO, it remains to be seen how other investors will react to these developments. The relationship between sentiment and market performance will likely influence the future of not just Worldcoin, but the broader crypto ecosystem in the weeks ahead.
Quick answers
Why did Arthur Hayes sell his Worldcoin holdings?
Hayes cited a concerning market trend and volatility in WLD prices as reasons for his exit.
What did Maelstrom’s research say about Worldcoin?
They described WLD as an overlooked investment opportunity in anticipation of AI mega IPOs, predicting it could reach $5 by August.
How did WLD prices react to Hayes’s announcement?
WLD peaked at $0.60 shortly after the positive forecast but fell back to $0.40 following Hayes's sale.
What is the significance of the SpaceX IPO for the crypto market?
The SpaceX IPO is expected to impact investor sentiment and could influence the performance of crypto assets linked to AI.
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