Bitcoin's correlation with troubled software stock sector is growing

Software stocks are thought to be facing an existential threat from the rise of AI, and Bitcoin, noted one analyst, is just open-source software. What to know : Bitcoin's correlation with the iShares Expanded Tech Software ETF (IGV), has risen to 0.73, noted by ByteTree Research. At its core, suggested another analyst, Bitcoin is just open source software, so maybe not immune to the AI issues facing software stocks.