Winklevoss Brothers Make a Bold Move Amid Kospi Crash..."Bitcoin (BTC) and Zcash (ZEC) are Alternatives to AI Stocks"

▲ Bear market, bull market, Bitcoin (BTC), Zcash (ZEC)/AI-generated image

Amidst a 10.84% crash in the Kospi, Gemini co-founder Cameron Winklevoss proposed Bitcoin (BTC) and Zcash (ZEC) as alternatives to the plummeting artificial intelligence-related stocks.

According to crypto media outlet BeInCrypto on July 28 (local time), Winklevoss argued that it was time to return to the cryptocurrency market as the selling spree in artificial intelligence (AI) related stocks spread. He said, “AI trading is over. It’s time to return to Bitcoin and Zcash.” He further described the two cryptocurrencies as “the hardest money.”

The Kospi index closed down 10.84% at 6,023.66. A circuit breaker was triggered during trading, halting transactions for 20 minutes. Samsung Electronics fell by 13.4%, and SK Hynix by 14.7%. Japan’s Nikkei 225 index also dropped by about 4%. Tokyo Electron plunged by 10.96%, and Kioxia by over 18%.

The technological pursuit by Chinese semiconductor companies triggered the sell-off. Chinese DRAM manufacturer CXMT surged 466% on its first day of listing on the Shanghai stock exchange. Its corporate value was estimated at approximately 3.3 trillion yuan. CXMT’s global DRAM market share in 2025 was projected to be 7.67%, ranking fourth after Samsung Electronics, SK Hynix, and Micron. Reports that a Chinese state-owned enterprise began producing extreme ultraviolet (EUV) lithography equipment also shook investor sentiment.

Nigel Green, CEO of deVere Group, pointed to circular fund transactions between Nvidia (NVDA), OpenAI, and Oracle (ORCL) as a problem. Green argued, “The same dollar is counted as revenue three times in a circular process. It’s an accounting trick, not demand.” BeInCrypto noted that some of the Nvidia valuation, OpenAI investment amount, and Oracle order backlog presented by Green differed from actual public disclosures.

Zcash has risen approximately 1,033% over the past year and launched its Ironwood network upgrade. Peter Schiff claimed that the SpaceX (SPCX) IPO signaled the peak of the artificial intelligence bubble. UBS countered that AI investments are not collapsing but entering a mature phase. Bitcoin and Zcash both fell on the same day as the stock market crash.

[Article Key Summary]

-Cameron Winklevoss argued it’s time to return to Bitcoin and Zcash after the crash in AI-related stocks.

-The Kospi plunged 10.84%, with Samsung Electronics and SK Hynix falling 13.4% and 14.7% respectively.

-Bitcoin and Zcash fell along with the stock market on the day Winklevoss’s remarks were made.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*