TL;DR:
- Maelstrom said Worldcoin’s WLD could reach $5 by August, roughly 900% above recent levels, as an overlooked crypto proxy for AI.
- OpenAI and Anthropic IPO momentum is central to the thesis, while WLD’s unlocked market capitalization sits near $2 billion.
- Potential catalysts include Eightco’s 283 million WLD holdings, $144 million cash balance and a 43% reduction in Worldcoin’s daily unlock schedule on July 24, over coming weeks.
Maelstrom is making a bold call in a battered altcoin market, arguing that Worldcoin’s WLD could surge to $5 by August. The investment firm framed WLD as a clean crypto proxy for the AI boom, with Lukas Ruppert saying investors overlooked the token while capital crowds into AI listings. The odd setup is that AI enthusiasm has not fully reached WLD, even though Worldcoin was co-founded by OpenAI CEO Sam Altman and is built around proving humans in an AI-saturated internet.
— Maelstrom (@MaelstromFund) June 3, 2026
AI IPO momentum puts WLD back in focus
Maelstrom’s thesis starts with the broader equity backdrop. OpenAI confidentially filed its IPO prospectus with the SEC on May 22, targeting a September 2026 debut and aiming to raise $60 billion at a potential valuation of up to $1 trillion. Anthropic also filed its draft prospectus after announcing a $65 billion funding round that valued it at $965 billion. The comparison makes WLD look strangely small, with Ruppert noting that its unlocked market capitalization is about $2 billion while AI valuations sit in the hundreds of billions.
The token’s weakness has its own mechanics. WLD has trended lower since February, with selling pressure accelerating in March after Worldcoin raised $65 million through an over-the-counter token sale to private investors. Of that amount, $25 million is locked for six months. Buyers reportedly hedged by shorting WLD perpetual futures before unlocks, creating what Ruppert called a textbook short overhang. The bearish pressure may be mechanical rather than permanent, which is why Maelstrom sees room for reversal if catalysts line up.
Those catalysts center on supply and corporate buying. Eightco has accumulated 283 million WLD tokens and holds about $144 million in cash that could be used for further purchases. A larger buy could squeeze shorts and create a reflexive loop. At the same time, Worldcoin’s daily unlock schedule is set to drop by 43% on July 24, reducing a steady source of selling pressure. Maelstrom’s $5 target depends on compression turning into acceleration, especially after WLD rose around 60% over the past week and traded near $0.50. The target sits roughly 900% above levels, but it reflects an argument: if AI IPO mania keeps building, WLD may stop trading like a forgotten token and trade like a leveraged bet on digital identity.
