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Eightco Stock Soars 3,800% on Worldcoin Accumulation Plan

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Eightco Holdings (OCTO.O) shares exploded on Monday, surging more than 3,800% after the fintech firm announced plans to raise capital and buy large amounts of Worldcoin, the cryptocurrency co-founded by OpenAI CEO Sam Altman.

The stock skyrocketed to $38.10 from Friday’s close of $1.45, marking the company’s biggest one-day gain on record. Trading volume exceeded 145 million shares, far above its 30-day average of under 5 million.

Eightco said it will raise about $250 million through a private placement of 171,000 shares at $1.46 each, with proceeds dedicated to acquiring Worldcoin. Peter Thiel-backed BitMine, which runs a similar strategy by stockpiling ether, will also invest $20 million.

The strategy mirrors Michael Saylor’s MicroStrategy, the largest corporate holder of bitcoin, and comes as U.S. crypto markets surge under supportive Trump-era regulations.

Worldcoin, launched in 2019, pairs a digital ID system with crypto distribution, offering users tokens in exchange for biometric iris scans. The total value of Worldcoin tokens stands at $2.7 billion, per CoinGecko.

Adding to momentum, Daniel Ives, a senior analyst at Wedbush Securities, will become board chairman of Eightco. The firm plans to change its ticker to “ORBS” on the Nasdaq around September 11.

Until now, Eightco was a tiny player: with just 3 million shares outstanding and a market cap of $4.4M as of last close, Monday’s rally represents a seismic shift in scale for the company.

Nvidia Regains Title as Most Valued Company in June on AI Optimism

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Nvidia reclaimed its position as the world’s most valuable company by market capitalization in June, reaching $3.86 trillion, driven by renewed investor optimism over its AI leadership and rising demand for its AI chips. This valuation was about 4.3% higher than Microsoft’s $3.69 trillion market cap at the end of June.

Despite this, Nvidia’s value remains below Apple’s record high of approximately $3.92 trillion set in December 2024. Apple ranked third with a market capitalization of $3.1 trillion at the end of June.

Other tech giants also saw significant gains: Meta Platforms rose 14% to $1.86 trillion, Broadcom increased 13.9% to $1.3 trillion, and Amazon grew 7% to $2.33 trillion. Meanwhile, Tesla’s market value dropped 8.3% to $1.02 trillion, affected by CEO Elon Musk’s public conflict with former President Donald Trump.

Daniel Ives, an analyst at Wedbush Securities, forecasted that Nvidia and Microsoft would both surpass $4 trillion market caps this summer, with a focus on reaching the $5 trillion mark over the next 18 months, signaling that the tech bull market is still in its early phase, led by the AI revolution.