“I felt a bit like a cave man who found fire,” Switzerland-based investor Daniel Koss said of his shift from investing in cryptocurrency to putting his money into artificial intelligence (AI), The Wall Street Journal reported Monday (Aug. 10).
According to that report, Koss made the same pivot as a lot of investors and hedge funds, unloading their bitcoin and other crypto tokens to invest in AI.
The WSJ says this helps illustrate why bitcoin has been halted at around $60,000 after falling from its record of more than $126,000 in October. At the same time, chipmakers and other AI stocks have seen the types of surges once found in the crypto market.
“What’s happening in crypto is the purge is just getting started,” Mike…
