Former Imran Khan, a former strategy chief at Snap Inc. and ex-banker at Credit Suisse, says cryptocurrency does not meaningfully fit within his artificial intelligence investment thesis, arguing that the digital asset sector operates on a fundamentally different premise from the AI-driven productivity boom.
Khan, now a technology investor, said that while there is growing speculation about a convergence between AI and crypto, he continues to view the two as largely separate investment themes.
“Crypto is a different animal,” Khan said in an interview. “When you invest in AI, you’re investing in productivity and economic growth.” Because of that distinction, digital assets rarely fit within the framework used by his firm, which focuses on companies positioned to benefit from major structural technology shifts.
Khan is the founder and chair of the investment committee at Proem Asset Management, a technology-focused investment firm managing roughly $450 million in assets. Before launching the firm, he served as chief strategy officer at Snap Inc., where he helped guide the company through its public listing. Earlier in his career, he led global internet investment banking at Credit Suisse, working on major deals including the record-breaking IPO of Alibaba Group.
Despite his view that crypto sits outside his AI thesis, Khan stressed that he is not opposed to digital assets. His firm has held positions in several crypto-related companies and products as part of its broader technology exposure.
According to Proem’s latest 13F filing, the firm reported stakes in Coinbase, Robinhood Markets, bitcoin mining company Iren Limited, and spot bitcoin through the iShares Bitcoin Trust. Khan said those investments are part of the firm’s broader focus on technology rather than its AI-specific strategy.
While Khan maintains that AI and crypto operate on distinct investment theses, some investors believe the two sectors could eventually intersect. Supporters of this view argue that both industries rely heavily on decentralized computing infrastructure and large-scale data networks.
One argument is that blockchain technology could provide payment rails and coordination systems for AI services operating across the internet without centralized ownership. A recent report from Citrini Research, which sparked brief market concerns about a potential AI bubble, suggested that autonomous AI agents could eventually bypass traditional credit card networks by using stablecoins for payments.
Others believe blockchain-based systems could help track how AI models use data, verify outputs, or manage digital identities for autonomous software agents.
Although the convergence of AI and crypto remains largely experimental, the idea has inspired a growing number of startups attempting to link artificial intelligence development with blockchain networks. At the same time, several bitcoin mining companies have begun shifting toward AI computing by repurposing their power infrastructure and data centers.
Even bitcoin itself could benefit indirectly from AI’s growth, according to analysts at NYDIG, a financial services and infrastructure firm. The firm has suggested that if AI adoption leads to job losses and weaker consumer demand, policymakers might respond by cutting interest rates to stabilize the economy. Such liquidity injections have historically supported the price of bitcoin.
Khan’s remarks come as enthusiasm around AI investments — which surged after the release of ChatGPT — is beginning to face greater scrutiny.
Shares of Nvidia, the dominant supplier of chips used to train AI models, and Broadcom, a major networking and custom AI chip manufacturer, are both down roughly 5% so far this year. The declines reflect growing investor questions about the pace of returns from the massive wave of spending on AI infrastructure.
The Citrini Research report that stirred concerns about the sector also outlined a hypothetical 2028 scenario in which rapid AI adoption could trigger widespread white-collar job losses and a sharp drop in consumer spending.
Khan acknowledged such fears but said similar concerns have appeared throughout history during major technological shifts.
“If you read Karl Marx, he said the same thing about machines 200 years ago,” Khan said. “Now we’re experiencing an AI revolution that could be as big as the Industrial Revolution, and people are making the same arguments.”
He added that technological change has historically reshaped labor markets rather than eliminating jobs altogether.
“When new technology emerges,” Khan said, “it creates entirely new kinds of jobs.”
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