Ben Cowen Warns Anthropic IPO Could Drain Attention From Bitcoin Price Rally

Analyst Ben Cowen warns a looming Anthropic initial public offering (IPO) could drain attention from Bitcoin (BTC). He says the asset is already fighting to extend its recent rebound.

The Into The Cryptoverse founder pointed to Bitcoin’s pullback ahead of SpaceX’s June listing as a precedent. He argued a similar rotation into artificial intelligence (AI) stocks could repeat.

Anthropic’s IPO Echoes the SpaceX Playbook Anthropic, the AI company behind the Claude chatbot, confidentially filed IPO paperwork in June. It is reportedly targeting a listing window as early as this fall. Some estimates value the company near $2 trillion.

Cowen argued a similar dynamic hit Bitcoin before SpaceX went public. He said the asset sold off in the weeks before that listing as investor interest shifted toward AI-linked equities.