Buying crypto in a bear market is a cheaper way to play the AI boom, this former Tiger Management executive says

Pantera Capital founder Dan Morehead argued that bitcoin is an inexpensive way to gain AI exposure, saying AI and crypto are complementary as autonomous AI agents may rely on blockchain-based payment rails. Speaking at a crypto conference, Morehead noted bitcoin is in a prolonged bear market (roughly 40% below its October record) and under its long-term trend, while a Pantera-tracked basket of AI leaders sits about 33% above its four-year trend. He called AI valuations stretched near-term and labeled crypto “incredibly cheap,” suggesting a potential rotation or re-rating if AI adoption drives demand for digital-native payments. The comments reinforce bullish analyst views on crypto adoption tied to AI growth.