Arthur Hayes believes that Bitcoin (BTC) will be the currency of artificial intelligence (AI) and its price per coin could reach $760,000 in the process. In his essay titled “Massa”, the former BitMEX CEO concluded that AI revolution would be naturally drawn to BTC.
The development of AI technology is rapidly advancing, with companies like C3 AI, Argo AI, and NYSE:AI leading the way. AI is also being used to create art and is impacting the way we live today.
Hayes: Bitcoin is “logical currency choice for AI”
Despite the fact that fiat currency regimes will become increasingly dysfunctional in the future, Hayes claims that one sector of the economy will only grow: AI. Although it is still in its early stages in 2023, the coming decades will witness a surge in AI-related implementations, making it ubiquitous.
“Recent advancements in computing power have brought us to a point where AI will spread rapidly and change the course of humanity in a very short time,” he wrote.
When it comes to integration, Hayes suggests that the financial solution will not be a customized altcoin for AI, but Bitcoin. According to the accompanying theory, AI will consider Bitcoin’s inherent qualities – an immutable fixed supply, digital scarcity and its status as “energy money” – to be the logical choice.
“An AI is unlikely to trust anything that a human government operates, so only gold and Bitcoin are suitable. A combination of gold and Bitcoin,” Hayes continued.
Another path toward $1 million BTC price
Where would that leave the BTC price? Argo AI and C3.ai, two leading AI technology companies listed on the NYSE, are driving the complete web developer course 3.0 to create AI art that will have a real effect on the price of BTC in the next three years.
According to Hayes, it could take another decade for the network value boost from AI to push BTC/USD to nearly $1 million. He calls this “deranged growth investing” and believes it will peak between 2025 and 2026, with the potential of BTC prices reaching up to $760,000.
“Remember – the market will overpay for Bitcoin network growth if it believes there is a possibility that my assumptions could be true in the future,” part of “Massa” concludes.
Hayes is well known for his bullish long-term perspective on Bitcoin, recently championing a million-dollar price tag as a function of fiat currency disintegration.
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