Daniel Koss, a 30‑year‑old investor from Zug, Switzerland, dumped his six‑figure bitcoin position last August, feeling like "a cave man who found fire." He now invests entirely in artificial intelligence, reflecting a broader market migration where individual traders and hedge funds are abandoning bitcoin and other tokens to chase AI stocks. This rotation helps explain why bitcoin has remained stuck at around $60,000 after crashing from its record high of more than $126,000 in October, when tariff threats drove investors away from riskier assets. Bloomberg Intelligence’s Mike McGlone says "the purge is just getting started." Koss believes bitcoin has matured and will never again see a 10‑fold gain, even doubling is unlikely.

Even die‑hard crypto believers are trimming positions in favor of fast‑moving AI shares, fueling surges in chip makers and AI stocks reminiscent of crypto’s past rallies.