Tech investor Imran Khan says cryptocurrency does not play a meaningful role in his AI investment strategy, arguing that the asset class operates on a fundamentally different thesis than the AI-driven productivity boom.
Despite the growing narrative that AI and crypto will converge, Khan said he largely views them as separate investment themes.
“Crypto is a different animal,” he said in an interview. “When it comes to artificial intelligence, you are investing in productivity and economic growth.” That difference means crypto rarely fits the framework his firm uses, which focuses on companies that benefit from structural technology shifts.
Khan is the founder and chairman of the investment committee at 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), helping lead the company to its public IPO, and previously ran global internet investment banking at Credit Suisse, where he worked on major deals including Alibaba’s record-breaking IPO.
However, he is not anti-crypto.
While direct token exposure typically doesn’t fit into the firm’s investment thesis, which focuses on fundamental private equity, Proem had positions in Coinbase (COIN), Robinhood (HOOD), as well as bitcoin miner Iren (IREN) and spot bitcoin through iShares Bitcoin Trust (IBIT), according to its latest 13F filing. These positions are not part of the firm’s AI strategy, but rather part of its broader focus on the technology sector, Khan said.
Crypto and AI cross
While Khan argues that the two industries are completely different, some investors argue that a cross between AI and crypto makes sense because both rely on decentralized computer networks and data infrastructure.
The argument is that blockchains can provide payment rails and coordination systems for AI services that operate across the Internet without a central owner. In fact, Citrini Research’s report last month that outlined AI bubble fears and caused a brief market meltdown mentioned that autonomous AI agents will 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, verify output or manage digital identities for autonomous software agents.
While the idea of convergence between the two industries remains largely experimental, it has fueled a wave of startups trying to connect AI development with crypto-based networks. Meanwhile, many bitcoin miners have already moved into the AI boom by repurposing their data centers and power infrastructure to support artificial intelligence computing
Even bitcoin could benefit from AI’s growth, said NYDIG, a financial services and infrastructure firm. The firm’s analyst argued that if AI cuts jobs and wages, weakens consumer demand, it could force policymakers to lower interest rates to stabilize the economy, and adding a surge of liquidity could support the bitcoin price.
AI bubble fear
Khan’s comments come as the AI investment boom that surged after ChatGPT’s launch begins to show signs of strain.
Nvidia ( NVDA ) — the dominant supplier of chips used to train AI models — and networking and custom AI chipmaker Broadcom ( AVGO ) are both down about 5% year-to-date, reflecting growing questions about the pace of returns from massive AI spending.
Meanwhile, the Citrini report that caused the AI scare outlined a hypothetical 2028 scenario in which rapid AI adoption leads to widespread white-collar job losses and a sharp drop in consumer spending.
Although it’s a worrying scenario, Khan looks at the bigger picture and says similar fears have followed nearly every technological revolution.
“If you read Karl Marx, he said the same thing about machines 200 years ago,” Khan said. “Now we have an AI revolution that could be as big as the industrial revolution, and people are making the same arguments.”
He added that new technologies have historically reshaped labor markets rather than eliminating jobs entirely.
“When there’s new technology, you create new kinds of jobs,” Khan said.
