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Bitwise CEO Takes Aim at Crypto’s AI Stock Obsession
Bitwise Asset Management CEO Hunter Horsley urged crypto investors to stop chasing AI stock momentum and focus on project fundamentals. Horsley posted on X on June 8 that investors should measure progress by on-chain adoption, product-market fit, and year-over-year asset performance. Context and Background: The comments arrive as Bitcoin trades near $62,800, well below its highs, while the Nasdaq-100 has gained 43% over the past year. The gap has frustrated crypto holders watching capital flow toward AI equities, and a wave of IPOs is reportedly set to raise over $200 billion. Horsley acknowledged the frustration in ... (full story)
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