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- The crypto rally is cooling as coin buyers are embracing AI instead, Nicholas Taleb says.
- Bitcoin and other cryptos have rebounded strongly this year, but have lost ground in the past week.
- Nvidia, Microsoft, Tesla, and other AI-related stocks have notched huge gains in 2023.
Cryptocurrencies are losing steam as some of their biggest fans get excited about artificial intelligence instead, Nassim Taleb says.
"The crypto fad is starting to peter out as many of those fanciful young adults who like to play w/computers in their mothers' basements are now getting enamored with AI," the author of "The Black Swan" tweeted on Friday.
"You need another infatuation to displace an infatuation," he added.