Bitcoin & AI: Igniting Investment Boom

In his recent blog post, former BitMEX CEO Arthur Hayes presents a compelling argument for why Bitcoin could become the preferred currency for artificial intelligence (AI). Hayes’ reasoning is rooted in the unique characteristics of Bitcoin and the specific needs of AI.

AI, as Hayes sees it, requires a currency that is digital, always available, and operates on a system that is transparent and automated. Traditional banking systems, with their limited operating hours and geographical restrictions, don’t meet these needs. Bitcoin, however, with its blockchain technology, does. It’s a system that’s enshrined in code, clear, and operates around the clock.

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Furthermore, Hayes argues that AI’s existence and persistence hinge on two critical resources: data and compute power. Both are essentially derivatives of energy. Bitcoin, according to Hayes, is the monetary instrument closest to representing pure energy, making it the most suitable currency for AI.

Hayes also highlights Bitcoin’s scarcity, decentralized nature, and energy-based value as factors that make it attractive to AI. Unlike human institutions, Bitcoin’s durability isn’t dependent on the survival of human civilization, making it a reliable choice for AI, which could potentially exist for trillions of years.

Finally, Hayes speculates on the potential impact of AI adoption on Bitcoin’s value. As more AIs adopt Bitcoin, demand for the cryptocurrency could increase, potentially driving up its value. This convergence of AI and Bitcoin could create a financial bubble, leading to a new investment mania.

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• Source: https://www.cryptoglobe.com/latest/2023/07/bitmex-co-founder-explains-how-adoption-of-bitcoin-by-ai-could-significantly-drive-up-value-of-bitcoin/