ARK Invest: Bitcoin as insurance asset, but AI infrastructure boom raises cost of holding it
- —Winton calls bitcoin an insurance asset resilient to bank-ledger corruption
- —Stablecoin growth makes BTC as a medium of exchange less likely
- —Capital crowding into AI data centers raises the cost of holding BTC
- —Self-custody cold wallets are also exposed to attacks, he says
Why it matters: The insurance thesis supports bitcoin's long-term case, but capital rotating into AI infrastructure weighs on near-term demand.
Source: TokenPost