Dan Ives Takes Helm of Worldcoin Treasury Strategy
Dan Ives, Wedbush Securities’ tech research chief, is stepping into a bold role. He has become chairman of Eightco Holdings, a Nasdaq-listed company reshaping its focus on Worldcoin, the cryptocurrency tied to Sam Altman’s AI-powered identity startup, World. The move combines two powerful themes: crypto adoption and digital identity in an AI-driven world.
A Strategic Bet on Crypto and AI
Eightco announced a $250 million private placement to fuel its new strategy of accumulating Worldcoin as a core treasury asset. The company also revealed plans to change its ticker from “OCTO” to “ORBS” after the offering closes on September 11.
Ives explained his motivation: “World is emerging as the standard for authentication in an AI future. This isn’t just a token play—it’s a long-term identity revolution.”
Following the MicroStrategy Playbook
This strategy echoes the bold approach pioneered by MicroStrategy—using debt financing and equity sales to stockpile crypto assets. With supportive regulatory shifts, more public companies are embracing similar moves, betting big on blockchain’s future.
Notably, Tom Lee of Fundstrat joined BitMine Immersion Technologies in June, triggering an 800% surge in its shares. BitMine has since invested $20 million in Eightco, marking the start of its “Moonshot” strategy for Ethereum ecosystem growth.
Why Identity Verification Matters in AI
Altman’s World project aims to tackle one of AI’s biggest challenges: distinguishing humans from machines. Through biometric verification, users receive a “World ID” for anonymous sign-ins, along with rewards in Worldcoin.
Ives emphasized that AI development will stall without reliable identity checks: “As robots and AI models expand, authenticating humans becomes critical to growth.”
This sentiment aligns with BlackRock CEO Larry Fink’s belief that blockchain-based “tokenized funds” will only thrive once identity verification is solved.
A High-Stakes Bet Beyond Bitcoin
Unlike many firms focusing solely on Bitcoin or Ethereum, Eightco is taking a riskier yet potentially more rewarding path. Other companies have followed this trend too—DeFi Development Corp is accumulating Solana, while CEA Industries announced plans to stockpile Binance Coin.
Worldcoin itself, launched in 2023, has grown into a $1 billion market cap project. While modest compared to Bitcoin’s $2 trillion or Ethereum’s $518 billion, its role in identity verification makes it uniquely positioned for future relevance.
The Bigger Picture
Ives, already running the Wedbush AI Revolution ETF, sees this as part of a broader tech bull market. By blending AI and crypto, he’s betting on two of the most transformative forces shaping the next decade.
“Blockchain and AI will define the future,” Ives said. “And identity will be at the core of it all.”
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