The managing partner of the venture firm Dragonfly, Hasib Qureshi, dismissed claims that the digital asset market is falling behind artificial intelligence. He emphasized that the current interest from investors in AI is a typical manifestation of capitalist dynamics, rather than evidence of a structural crisis in the crypto sector.
This is reported by Finway
Comparing AI and Cryptocurrencies: Different Markets and Monetization
During his speech at the NEARCON 2026 conference, Qureshi noted that comparing the growth of the user base of AI and cryptocurrencies is inaccurate. According to him, less than 1% of AI users actually pay for services, whereas in cryptocurrencies, any interaction involves costs. He emphasized:
“There is no such thing as free Bitcoin. There is no free Ethereum either.”
Qureshi provided data showing that about 15% of the U.S. population already owns cryptocurrencies, indicating their widespread nature. In comparison, approximately 80% of Americans have tried AI-based tools, but this does not imply a high level of monetization or engagement, as seen in the crypto industry.
He also pointed out the active development of stablecoins: their annual growth rate is around 50%, regardless of the fluctuations in the value of major cryptocurrencies like Bitcoin or Ethereum.
Investment Cycle and Technological Efficiency
Although venture capital has recently been flowing into startups in the artificial intelligence segment, Qureshi considers this a natural market reaction to a new technological trend. He emphasized that:
“Money is a leading indicator. People react to money, not to reality.”
According to the expert’s estimates, the total capitalization of the crypto market is about $2 trillion. Many projects in the field are created by small teams, which distinguishes them from large AI companies with thousands of employees. This, in Qureshi’s opinion, indicates a high technological efficiency in the crypto industry.
In January 2026, Dragonfly announced the launch of a new fund worth $650 million. Hasib Qureshi explained that investing during a price decline is more rational than investing at the market peak.
At the same time, the expert is skeptical about the idea that artificial intelligence can “save” cryptocurrencies. Qureshi is convinced that integrating AI agents into the blockchain ecosystem will take some time, and attempts to quickly merge these technological trends are often speculative in nature.
He emphasized that the current situation is just another market cycle, and the price decline and cooling of sentiments are a normal correction after a period of excessive funding, rather than a weakening of the industry’s fundamental positions.