Arthur Hayes’ investment firm Maelstrom has identified Worldcoin as an overlooked cryptocurrency proxy for the artificial intelligence boom, predicting the WLD token could reach $5 by August, representing approximately 900% gains from current levels around $0.50. The bullish call comes as major AI companies prepare for public market debuts, with the crypto market potentially undervaluing exposure to the sector through digital assets.
Maelstrom researcher Lukas Ruppert highlighted that while traditional stock markets have surged on AI enthusiasm, the cryptocurrency space has largely missed the opportunity. “The AI mega IPOs are coming and it appears the market has overlooked one of the cleanest proxies,” Ruppert said on Wednesday. The timing coincides with significant developments in the AI sector, including OpenAI’s confidential SEC filing on May 22 targeting a September 2026 public debut with a potential $1 trillion valuation and $60 billion fundraising goal.
Worldcoin, co-founded by OpenAI CEO Sam Altman, operates as a crypto project aimed at creating a global digital identity and financial network capable of distinguishing real humans from AI bots. The WLD token serves as the native asset underpinning this ecosystem. According to CoinGecko, WLD has emerged as the best-performing cryptocurrency in the top 100 tokens by market capitalization over the past week, surging approximately 60% despite a downtrend since February.
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Ruppert’s analysis identifies two specific catalysts that could trigger the predicted price rally. The first involves Eightco, a publicly-traded company holding 283 million WLD tokens with approximately $144 million in cash reserves. If Eightco deploys this capital to purchase additional WLD tokens, it could trigger what Ruppert describes as a “reflexive loop” that sends prices higher. The second catalyst involves Worldcoin’s token unlock schedule, which is set to decrease by 43% on July 24, potentially reducing daily selling pressure on the market.
The price dynamics stem partly from a “textbook short overhang” created during Worldcoin’s March private sale. The project raised $65 million through an over-the-counter round, with $25 million of tokens locked for six months. Buyers hedged against potential price declines by shorting WLD on perpetual futures markets, creating mechanical selling pressure that could reverse once unlock schedules change and major holders accumulate more tokens.
Ruppert emphasizes the valuation disconnect between WLD and major AI companies preparing for public offerings. While Anthropic recently achieved a $965 billion valuation following a $65 billion funding round, and OpenAI targets a $1 trillion valuation, Worldcoin trades at just a $2 billion unlocked market capitalization. This disparity positions WLD as what Ruppert calls an “asymmetric upside” opportunity for investors seeking AI exposure through cryptocurrency markets.
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The broader context shows institutional capital aggressively pursuing direct exposure to leading AI companies. However, this pattern mirrors dynamics seen in related coverage of token surges driven by fresh capital inflows, suggesting cryptocurrency markets can experience rapid repricing when investor sentiment shifts. Traditional equity markets have reflected AI enthusiasm, with the S&P 500 reaching record highs this week, driven partly by gains in memory storage and semiconductor companies including SanDisk, Micron, Seagate and Western Digital.
Ruppert notes that WLD exhibits volatile price action patterns. “WLD doesn’t move often but when it does, it moves aggressively,” he stated, suggesting the token’s historical behavior supports the possibility of significant upside moves when catalysts align. The August target of $5 per token would represent a substantial revaluation, though such predictions carry inherent risks and depend on multiple factors aligning as anticipated.
The Maelstrom analysis underscores a potential gap between cryptocurrency market valuations and the underlying AI sector’s explosive growth trajectory. As major AI companies prepare for public debuts, investors continue evaluating alternative exposure mechanisms, including tokens tied to AI-focused blockchain projects like Worldcoin.
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