Multicoin Shuns AI Push, Keeps HYPE as Its Largest Crypto Bet

Multicoin Capital is refusing to follow rival crypto venture firms into standalone AI investments, arguing its competitive advantage remains in digital assets. The $2.7 billion firm is also keeping Hyperliquid’s HYPE token as the largest position in its hedge fund. Multicoin Capital is making a contrarian bet in venture capital: while money pours into artificial intelligence, the firm is staying firmly in crypto. Speaking to Bloomberg , the Austin-based investment manager, which oversees about $2.7 billion, has no plans to widen its mandate to include pure-play AI companies, according to Spencer Applebaum, general partner and co-head of venture. “We believe we have an edge in crypto, and we want to stay true to it,” Applebaum said.

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