Tech investor Imran Khan says cryptocurrencies don’t play a meaningful role in his artificial intelligence investing strategy, arguing the asset class operates on fundamentally different principles than the AI-driven productivity boom.
While there is growing consensus that artificial intelligence and cryptocurrencies will converge, Khan said he largely views them as separate investment themes.
“Cryptocurrency is a different animal,” he said in an interview. “When it comes to artificial intelligence, you’re investing in productivity and economic growth.” That disparity means cryptocurrencies rarely fit into the framework his company uses, which focuses on businesses benefiting from structural technological shifts.
Khan is the founder and chairman of the investment committee of Proem Asset Management, a technology-focused investment firm with $450 million in assets under management. Prior to launching Proem, he served as chief strategy officer at Snap (formerly Snapchat), where he helped lead the company’s public offering, and previously ran global internet investment banking at Credit Suisse, where he was involved in major transactions including Alibaba’s record-breaking IPO.
However, he is not opposed to cryptocurrencies.
While direct token investments are generally inconsistent with the firm’s underlying private equity-focused investment philosophy, Proem holds positions in Coinbase (COIN), Robinhood (HOOD), and Bitcoin miner Iren (IREN), as well as spot Bitcoin through the iShares Bitcoin Trust (IBIT), according to its latest 13F filing. Khan said the positions are not part of the company’s artificial intelligence strategy but part of its broader focus on the tech industry.
The intersection of cryptocurrency and artificial intelligence
While Khan believes the two industries are completely different, some investors believe the intersection of artificial intelligence and cryptocurrency makes sense because both rely on decentralized computing networks and data infrastructure.
The argument is that blockchain can provide a payment rail and coordination system for artificial intelligence services that can run on the Internet without a central owner. Indeed, last month, Citrini Research’s report spelled out fears of an AI bubble and led to a brief market crash, mentioning that autonomous AI agents would disrupt traditional payment systems by bypassing credit card networks in favor of stablecoins.
Others say blockchain-based systems could also help track how AI models use data, validate outputs or manage the digital identities of autonomous software agents.
While the idea of the two industries merging remains largely experimental, it has fueled a wave of startups trying to connect artificial intelligence development to crypto-based networks. Meanwhile, many Bitcoin miners have pivoted to the AI craze by repurposing their data centers and power infrastructure to support AI computing
Financial services and infrastructure company NYDIG says even Bitcoin could benefit from the growth of artificial intelligence. Analysts at the firm believe that if AI cuts jobs and wages and weakens consumer demand, it could force policymakers to cut interest rates to stabilize the economy, while adding a wave of liquidity could support Bitcoin prices.
AI bubble fear
Khan’s comments come as a surge in investment in artificial intelligence following the launch of ChatGPT is starting to show signs of strain.
Shares of Nvidia (NVDA), a major supplier of chips used to train AI models, and Broadcom (AVGO), a maker of networking and custom AI chips, are both down about 5% so far this year, reflecting growing doubts about how quickly massive AI spending will pay off.
Meanwhile, the Citrini report that sparked the AI scare outlines a hypothetical 2028 scenario in which rapid adoption of AI leads to widespread white-collar job losses and a sharp decline in consumer spending.
While this is a worrying situation, Khan looks at the bigger picture and says nearly every technological revolution comes with similar concerns.
“If you read Karl Marx, he said the same thing about machines 200 years ago,” Khan said. “Now we’re going through an AI revolution that’s probably as big as the industrial revolution, and people are making the same argument.”
He added that new technologies have historically reshaped labor markets rather than eliminating jobs entirely.
“When new technology emerges, new jobs are created,” Khan said.
