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Bitcoin (BTC) was once pitched as digital gold — a hedge against monetary instability and market turmoil. But recent price action tells a different story. As institutional participation has grown, particularly through exchange-traded funds and other traditional vehicles, Bitcoin has increasingly traded in lockstep with risk assets. The latest downturn in software stocks, fueled by renewed uncertainty around AI’s impact on the sector, has been mirrored in crypto markets, raising fresh questions about Bitcoin’s evolving identity. That changing dynamic sets the tone for this week’s Crypto Biz. New research from Grayscale examines Bitcoin’s growing correlation with growth equities, while one Ether (ETH) treasury company is doubling down despite multibillion-dollar paper losses. Elsewhere, BlackRock is expanding its tokenization push through a Uniswap integration, and Polymarket is taking its fight over state regulation to federal court. Grayscale: Bitcoin is trading like a growth asset, not digital gold New research from Grayscale suggests that Bitcoin’s store-of-value narrative has recently taken a back seat, with the digital asset behaving more like a growth stock. In the report, author Zach Pandl said that while Grayscale continues to view Bitcoin as a long-term store of value due to its fixed supply and independence from central banks, its short-term trading patterns resemble those of high-growth equities. The analysis found a strong correlation between Bitcoin and software stocks over the past two years. That relationship has become more apparent as software companies face renewed selling pressure amid concerns that artificial intelligence could disrupt parts of the industry. Against that backdrop, Bitcoin’s recent pullback appears less surprising, as its price has closely tracked the software sector’s movements. Bitcoin’s recent price performance tracks closely with software stocks. Source: Grayscale BitMine adds 40,613 ETH during market sell-off Ether treasury company BitMine Immersion Technologies added 40,613 ETH to its holdings during the…

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Filed under: News - @ February 14, 2026 3:24 am