Robbie Mitchnick, BlackRock’s head of digital assets, told Yahoo Finance on June 22 2026 that the surge in artificial‑intelligence investments is draining liquidity from Bitcoin ($BTC), leaving the flagship crypto under pressure.
AI‑Driven Capital Shift and Bitcoin’s Price Decline
Since the beginning of the fourth quarter of 2025, assets not linked to AI have faced headwinds, a trend Mitchnick highlighted as a “tough stretch” for Bitcoin and the broader crypto sector. The AI rally has propelled stocks such as Intel (NASDAQ: INTC), Marvell Technology (NASDAQ: MRVL), Advanced Micro Devices (NASDAQ: AMD) and Broadcom (NASDAQ: AVGO) to outpace the digital‑currency market.
Bitcoin’s year‑to‑date performance reflects this shift, with the coin down roughly 28.9 percent and trading near $62,230 on June 23 2026. The price dip translates to a market capitalization of about $1.2 trillion, positioning Bitcoin below Space Exploration Technologies Corp. (NASDAQ: SPCX) after the latter’s recent public offering.
Impact on Investors and Related Markets
Investors have redirected funds toward AI‑centric equities, reducing demand for traditional safe‑haven assets like gold and other precious metals, which have mirrored Bitcoin’s slump. The reallocation underscores a broader preference for blockchain‑related projects that can harness AI capabilities, while the crypto market grapples with diminished capital inflows.
Analysts suggest that the continued dominance of AI stocks could keep pressure on Bitcoin’s price and market share, prompting investors to monitor both sectors closely as the AI boom reshapes capital flows across the financial landscape.