[Tom Lee: AI Stock Sell-Off Drags Down Crypto Assets, Believes This Decline is an 'Attractive Investment Opportunity'] BlockBeats News, October 19, Bitmine Chairman Thomas 'Tom' Lee stated: 'Over the past few weeks, a combination of concerns over AI funding and AI model safety, the escalation of the Israel-Iran conflict, anxiety ahead of the U.S. midterm elections, and the general rise in global bond yields has led to a contraction in investor risk appetite. This triggered a sell-off in AI stocks, including semiconductor and memory chip stocks, which further caused sell-offs in the South Korean and Taiwanese markets, both of which are dominated by semiconductor and memory chip stocks.' 'Cryptocurrencies are widely held in regions like the U.S. and South Korea. Naturally, when investors in these regions reduce risk, it creates spillover pressure on the cryptocurrency market. Historically, as long as fundamentals remain strong and prices decline, this has presented an attractive risk/reward opportunity. Given cryptocurrencies' positive exposure to the modern global financial system infrastructure and agentic AI, we believe this will prove to be the case once again.' Lee further stated: 'We believe Bitmine is well-positioned to outperform in the upcoming cryptocurrency bull market, as the company has strengthened its competitive position during the past year's crypto bear market.' [Original Link]