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Bitcoin’s recent rally suggests investment capital concentrated in AI-related stocks is beginning to flow out, BeInCrypto reported.
Bill Miller IV, CIO of Miller Value Partners and a hedge fund veteran, told CNBC that as doubts grow over returns from AI-related stocks, long-term investors are turning back to crypto. Miller added that Bitcoin is drawing not only capital previously allocated to AI investments but also rising attention as a structural hedge against growing government debt and a weaker dollar. Miller said the U.S. fiscal deficit, at $1.8 trillion this year, now exceeds Bitcoin’s market capitalization.