Asset manager VanEck plans to increase its investments in Bitcoin miners due to President Trump's support for cryptocurrencies and artificial intelligence. VanEck believes that Bitcoin mining firms occupy a unique position in the convergence of crypto and AI, as the energy demands of both industries can be repurposed for AI computing. The company expects miners towing this line to benefit significantly as the AI industry grows. VanEck also notes that companies signaling AI expansions have generally outperformed those that have not. VanEck has been bullish on Bitcoin, predicting it will one day rival gold as a global monetary standard, and setting a price target of $170,000 for 2025.



Other News from Today