Bitcoin has been going in tandem with IGV (Software)
[2021-2023], [2025-2026]
IGV -44% , -32%
BTC -77%. , -53%
1.75x downside, 1.65x downside
The market has been selling off software stocks because AI is eating the world right now. If you're not allocated to AI-related investments, you underperform, and funds have to be in the trade unless they want to see AUM bleed.
There is no doubt that AI is going to kill a ton of companies, but this sell-off could indicate fear that will do so today or in 6 months, which is not going to happen.
Unless the big software companies like MSFT, Oracle, Sal