The growth of AI infrastructure and demand for Bitcoin may represent long-term trends, but asset valuations remain cyclical, CoinDesk noted. The publication cited the AI boom and demand from Amazon, Google, and SpaceX, the rise of precious metals, and the dynamics of Strategy as the largest corporate holder of the first cryptocurrency.
Amid the excitement, Micron Technology surged 700% over the year, Sandisk skyrocketed over 4000%, and SK Hynix raised $26.5 billion through a U.S. listing, but then their stocks pulled back. After peaking, Strategy lost about 80%, with its premium over Bitcoin reserves shrinking to roughly NAV, while silver, after a rise in January 2026, fell nearly 50%.