Bitcoin (BTC) will become the currency of artificial intelligence (AI), according to Arthur Hayes, potentially reaching $760,000 per coin in the process.
In his latest essay entitled “Themassa’, the former BitMEX CEO concluded, the artificial intelligence revolution will naturally favor BTC.
Hayes: Bitcoin is the “logical currency of choice for artificial intelligence”
According to Hayes, while the fiat currency system is destined to become increasingly dysfunctional in the future, there is one emerging sector of the economy that will only grow stronger: artificial intelligence.
While still in its infancy until 2023, the coming decades will see an explosion of AI-related implementations that will make it ubiquitous and inevitable.
“Recent advances in computing power have brought us to the cusp of a hockey stick moment when artificial intelligence will spread like a virus and change the course of humanity almost overnight,” he wrote.
“In just two months, ChatGPT has reached 100 million monthly active users, making it the fastest-adopted technology in human history – imagine what can happen as AI is integrated into everyday life and continues to learn and improve What a change.”
When it comes to integration, the financial solution on the table won’t be tailor-made AI-focused altcoins first, but bitcoin, Hayes said.
An accompanying theory states that the reason is that the AI will see Bitcoin’s inherent qualities — its immutable fixed supply, digital scarcity, and its status as an “energy currency” — as the logical choice.
“It’s very unlikely that an AI will allow itself to be dependent on anything run by a human government, so only gold and bitcoin would be appropriate. The link between gold and bitcoin,” Hayes continued.
“Bitcoin is therefore the logical choice of currency for any AI. It is purely digital, censorship-resistant, provably scarce, and its intrinsic value is entirely dependent on the cost of electricity. Nothing today challenges Bitcoin on these fronts. “
Alternative path for BTC price towards $1 million
So what will happen to the price of BTC?
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Starting at around $30,000 today, the real effects of AI should be felt within three years or so.
After that, it may take a decade or so before BTC/USD hits nearly $1 million, Hayes said, due to the boost in network value brought about by AI alone.
“I believe that the peak of wild growth investment will occur between 2025 and 2026. Therefore, the goal of my future price predictions for Bitcoin is to form a narrative that will dominate until then,” he explained.
Depending on the size of the investment, BTC price action could be as high as $760,000 per coin.
“Keep in mind that if the market thinks my assumptions are likely to hold in the future, the market will overpay for the growth of the Bitcoin network,” concludes part of Massa.
“The most money is made when the market price adjusts from ‘never happens’ to ‘maybe might happen’.”
Known for his long-term bullish views on Bitcoin, Hayes has recently advocated for Bitcoin’s price to be in the millions as a function of the breakdown of fiat currencies.
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This article does not contain investment advice or recommendations. Every investment and transaction involves risk, and readers should do their own research when making a decision.
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