FXTM has analysed Google Trends data comparing searches for “AI” versus “Bitcoin” over the past couple of years, and the results are striking:
- In November 2022, global searches for “AI” surpassed those for “Bitcoin”
- Since then, “AI” has consistently maintained higher search volumes than both “Bitcoin”, and “crypto”
- As of February 2025, “AI” boasts 475% more search volume than “Bitcoin” worldwide
At FXTM, we’ve also examined the potential correlation between this trend and the performance of AI stocks over the last two years. Here’s what we found:
- Nvidia: Since September 2022, Nvidia stock has experienced a significant and nearly continuous rise – gaining over 850%.
https://www.macrotrends.net/stocks/charts/NVDA/nvidia/stock-price-history
- AMD: While AMD saw an increase starting in November 2022, its performance has been more volatile, with a downward trend beginning in March 2024.
https://www.macrotrends.net/stocks/charts/AMD/amd/stock-price-history
- SoundHound AI: After a slow start post-IPO in April 2022, the stock gained momentum in early 2024, peaking in December 2024. However, it has begun to decline in 2025, likely due to increased competition and geopolitical influences.
https://www.macrotrends.net/stocks/charts/SOUN/soundhound-ai/stock-price-history
Conversely, cryptocurrency stocks have shown a different trajectory:
- Coinbase and MicroStrategy: Both companies struggled throughout 2022 but began to recover in 2024 as Bitcoin pushed higher.
https://www.macrotrends.net/stocks/charts/COIN/coinbase-global/stock-price-history
https://www.macrotrends.net/stocks/charts/MSTR/microstrategy/stock-price-history
Lukman Otunuga, senior market analyst at FXTM comments:
Is AI Overtaking Crypto in Popularity, both in General Interest and within the Stockmarket?
The A.I. hype started building momentum in November 2022 after the release of ChatGPT.
It became a key theme in 2023 and 2024 amid expectations that widespread adoption of AI will increase company profits over the next few years.
This mania sent shares of tech giants surging, with phenomenal earnings keeping the hype alive.
Nvidia, the poster child of the AI boom surged in value, eventually becoming one of the most valuable companies in the world. This hype along with jaw-dropping gains from the magnificent 7 – (Alphabet, Amazon, Apple, Meta Platform, Microsoft, Nvidia and Tesla) kept AI in the headlines.
During this same period, there was consolidation in the crypto space with market activity only picking up due to the ETF hype and optimism around the pro-crypto US President.
Looking ahead though, with Bitcoin recently hitting an all-time high and investors awaiting pro-crypto executive orders from Trump – this may redirect attention back toward cryptos.
What Does the Future Hold for Stocks in Each Sector – AI and Crypto?
The future will depend on whether big tech companies can satisfy investors’ lofty expectations. Investors may get a taster next week when some of the largest tech titans publish their latest results.
Regarding crypto, this hinges on whether Trump rolls out pro-executive orders welcomed by the crypto community. Crypto investors are already jittery after his inauguration speech failed to mention anything about cryptos.
One thing to keep in mind is that MicroStrategy is the largest Bitcoin holder among publicly traded companies, accumulating almost 450,000 Bitcoins valued at almost $30 billion. The company’s stock surged almost 360% in 2024 and is now part of the Nasdaq 100.
Joining the Nasdaq 100 provides investors an indirect exposure to Bitcoin through investing in MicroStrategy.
