Bitwise CIO Says Bitcoin Wins the AI Trade in Boom or Bust Scenarios

Bitcoin wins AI trade — Bitwise Chief Investment Officer Matt Hougan has argued that Bitcoin is positioned to benefit from the artificial intelligence revolution regardless of whether the sector booms or busts.

In a note to investors, Hougan presented a “Choose Your Own Adventure” framework outlining three potential AI futures. He posited that a scenario of AI-driven superabundance, a sharp AI bust, or a muddle-through economy all ultimately lead to the same conclusion: higher demand for Bitcoin.

Hougan’s thesis suggests that Bitcoin’s core value proposition as a hedge against monetary policy and a store of value becomes increasingly attractive as AI developments create economic uncertainty and reshape labor markets. The analysis frames Bitcoin not as a direct AI play but as a critical financial asset in an AI-transformed world.

The investment note from the crypto asset manager reflects a growing narrative linking macroeconomic shifts driven by technological advancement to Bitcoin’s long-term investment case. Bitwise manages several cryptocurrency-focused investment products, including a spot Bitcoin ETF.