Former Bitmex CEO Arthur Hayes is confident that Bitcoin will be essential for the development of AI in the future. According to Hayes, in the future, Bitcoin would serve as the “food of AI”. AI will want compensation for its efforts, and Bitcoin is the ideal asset for this. It is precious, difficult to move across borders, and rare.
According to Hayes, the development of AI will stimulate new ideas and a sense of fulfillment. More free time can enable humans to focus on their creative endeavors.
He compares Bitcoin to gold and fiat currencies and argues that Bitcoin is the better choice for AIs. Gold is limited in supply, but it’s not digital and can be difficult to transport. Fiat money is digital, but it has an unlimited supply and can be under control by governments.
Bitcoin is the finest of them all due to its scarcity, energy-buying power, and resistance to censorship.
He thinks If AI and Bitcoin are integrated, the price of Bitcoin will reach $760,000 within the next two to three years. Based on his calculations, which also take into account the scale of the AI economy and several elements of the Bitcoin ecosystem.
He believes that the market is frequently prepared to overpay for things that it expects to appreciate.
Investors are always in search of the next big thing and are prepared to take chances on assets that have the potential to bring revolution in the market.
He said Ethereum is less useful as a store of money since its value is more volatile than Bitcoin’s. In addition, he believes that Ethereum is more vulnerable to assault since its network is more centralized than Bitcoin’s.
