Arthur Hayes, co-founder of BitMEX, linked Bitcoin's potential price rise to the size of the artificial intelligence (AI) investment bubble. Speaking on the Convergence program, he noted that major AI companies like OpenAI, Anthropic, and SpaceX are not profitable and rely heavily on debt, equity financing, and implicit U.S. government support. Hayes suggested that if the AI bubble expands, larger financial rescue efforts might follow, benefiting Bitcoin as a reflection of wasteful spending. He also criticized token launches, warning retail investors about significant losses after initial token generation events. At the time, Bitcoin was trading near $81,400 amid a declining Nasdaq 100 and chip stock market.
Arthur Hayes' comments on AI and Bitcoin gains provide context for cryptocurrency market trends. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Oct 17, 2026 21:21 WIB: out of 50 priced major cryptocurrencies, 5 rose and 44 fell today. Notable movers include ENJ (Enjin Coin) at Rp511 with a -4.99% change and a typical hold time of 105 days, SNX (Synthetix) at Rp3.885 down -4.97% with 70 days hold time, and GRT (The Graph) at Rp433 down -4.87% with 99 days hold time. Pluang order activity shows mixed buy/sell ratios across these assets.
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