Investors shift into AI stocks as Bitcoin loses $1.2 trillion
Business
Bitcoin has taken a major hit, dropping from a peak last year to just above $60,000 now, wiping out a massive $1.2 trillion in market value.
The big reason? Investors are flocking to AI stocks instead, drawn by the hype and potential for bigger returns in tech.
AI attracts capital amid high rates
AI companies are grabbing all the buzz (and money), while higher interest rates make riskier bets like Bitcoin less appealing.
With inflation sticking around and the Federal Reserve holding off on rate cuts, it's getting tougher for cryptocurrencies to compete, especially when investors see more action (and maybe more profit) in AI right now.