Bitwise said Bitcoin is likely to rise over the long term regardless of how artificial intelligence trends or U.S. interest rates evolve. CIO Matt Hougan said markets are weighing recession risks and what a collapse in an AI bubble would mean for Bitcoin. He said AI-driven growth could push investors toward hard-to-copy assets, while an AI bust could prompt policy support, rate cuts and faster money supply growth.

Kevin Wash, nominated as chair of the U.S. Federal Reserve, disclosed assets exceeding $100 million spanning cryptocurrencies, artificial intelligence and private equity. He filed a 69-page financial disclosure with the U.S. Office of Government Ethics, clearing a key administrative step for a Senate Banking Committee hearing. The filing lists large stakes in Juggernaut Fund LP, consulting fees and investments held through THSDFS LLC, with some details withheld under NDAs.