Crypto doesn’t belong in an AI portfolio as it’s ‘a different animal,’ says a tech investor

Imran Khan, founder of Proem Asset Management and former Snap executive, asserts that cryptocurrency should not be included in an AI investment portfolio because it operates on a fundamentally different thesis than the AI-driven productivity boom. While acknowledging the growing narrative of AI and crypto convergence, Khan views them as separate themes, stating that AI investments target productivity and economic growth, which doesn't align with his firm's focus on structural technology shifts.

Despite this stance, Khan's firm has held positions in crypto-related entities like Coinbase, Robinhood, and spot bitcoin via IBIT, classifying these as part of their broader tech sector focus rather than their core AI strategy. Proem focuses primarily on fundamental private equity.

Khan's comments arrive amid market strain concerning the AI investment boom, evidenced by recent dips in major chip suppliers like Nvidia. However, he dismisses fears of widespread job loss due to AI, comparing current anxieties to those surrounding past technological revolutions like the Industrial Revolution, asserting that new technologies historically reshape labor markets by creating new types of jobs.

(Source：CoinDesk)