Arthur Hayes Is Betting on What Comes After the AI Crash

BitMEX co-founder Arthur Hayes told traders to go long Bitcoin (BTC) and Ethereum (ETH) rather than bet on an AI crash. He paired the call with a chart of CoreWeave’s falling stock.

Hayes says he would not wager on AI either way. Instead, he expects a multi-trillion-dollar bailout and wants exposure to the assets that could absorb that money.

Arthur Hayes Trades the Rescue, Not the Crash

Hayes shared the call on X.

His case for investors rests on history. In his view, every major technology rollout gets overbuilt, then crashes, then gets rescued. He expects the AI data center boom to hit that wall around late 2027 or 2028.

When the rescue comes, Hayes expects authorities to print more money than they did after the 2008 financial crisis.

The new money then needs a home. Hayes argues that Bitcoin and other crypto would absorb that liquidity, and he sees the flood lifting Bitcoin to $1 million or more.

Shorting AI, by contrast, holds little appeal for him. Arthur Hayes would rather wait for the rescue than guess the timing of the crash.

The 2020 pandemic rescue backs the idea. As the Federal Reserve more than doubled its balance sheet, Bitcoin rose from under $5,000 to above $60,000.

Lately, though, that link has frayed. US money supply hit a record in August, yet Bitcoin trades about 35% below its October 2025 peak. The same gap with Bitcoin prices shows up globally.

Both of his picks have also lagged most AI stocks in 2026.

Not everyone sees an imminent burst either. Fundstrat co-founder Tom Lee argues that AI resembles 1997, not 1999, and puts a bubble peak near 2033.

AI Debt Fears Test the Bailout Trade

CoreWeave, an AI cloud provider, plunged 15% a day after CNBC host Jim Cramer named it his only trusted AI cloud pick.

Its slide fed a broader worry about AI debt. In a September newsletter, Hayes called major US insurers insolvent over AI debt at market value.

For crypto traders, the debate is moving from whether AI shares fall to who pays if they do. Arthur Hayes has placed his bet on governments printing the bill, with Bitcoin and ETH as the hedge.

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