Dan Morehead says crypto offers cheaper AI investment amid bear market

12 articles · Updated · MarketWatch · Apr 28

Speaking at Alchemy’s crypto conference in New York, Pantera Capital CEO Dan Morehead highlighted that bitcoin trades 40% below its record high, while leading AI stocks are 33% above their four-year trend.
Morehead argued that as AI adoption grows, autonomous agents will require blockchain-based payment systems, making crypto increasingly essential. He believes investors are overpaying for AI exposure and overlooking undervalued digital assets.
Despite his previous bullish bitcoin forecasts not materializing, Morehead remains optimistic about crypto’s long-term role in the AI ecosystem, contrasting current market sentiment and valuation trends in both sectors.

With AI valuations soaring, is crypto truly the 'cheap' backdoor play, or just a separate, riskier bet?

Could traditional finance adapt to AI payments faster, making crypto's proposed role entirely redundant?

As Google and Coinbase build payment rails for AI, which blockchains will win the race to power this new machine economy?

What systemic risks arise if AI agents, transacting trillions in stablecoins, trigger an automated financial crisis?

If AI agents begin managing their own finances, what fundamental changes will this bring to the global economy?

Can new 'Know Your Agent' rules effectively prevent autonomous AI from being used for illicit finance on a global scale?