Bitcoin price news: BTC tumbles back to $64,000 as IBM becomes latest AI target
Bitcoin fell to $64,000 as IBM shares plunged 11% following Anthropic's announcement that its AI can automate COBOL modernization.Summary
The stock market and cryptocurrency prices experienced sharp declines due to ongoing business model disruptions from artificial intelligence advancements. IBM was significantly impacted, dropping over 11% after Anthropic revealed its Claude AI platform can streamline COBOL code modernization, a key area for IBM's consulting business. Anthropic noted that COBOL powers critical systems in finance and airlines, and modernizing it traditionally required extensive consultant work. This AI-related downturn in the software sector pulled down major indices like the Dow, S&P 500, and Nasdaq. Consequently, Bitcoin tumbled 5% to $64,000, with other major cryptos like Ether and Solana seeing similar drops. In contrast, bitcoin miners that are integrating AI infrastructure models, such as IREN and Cipher Mining, saw their stock prices rise, alongside precious metals like gold and silver.
(Source：CoinDesk)