According to former BitMEX CEO Arthur Hayes, Bitcoin (BTC) will become the currency of choice for artificial intelligence (AI), potentially reaching a price of $760,000 per coin. In his essay titled “Massa,” Hayes argues that as the AI revolution continues to unfold, it will naturally gravitate towards Bitcoin.
Hayes begins by highlighting the growing dysfunction of fiat currency regimes and emphasizes that AI is one sector that will continue to grow and strengthen in the coming decades. He believes that recent advancements in computing power have brought us to the edge of a significant breakthrough, where AI will transform humanity almost overnight. For example, the rapid adoption of ChatGPT, which reached 100 million monthly active users in just two months, demonstrates the potential for AI to become integrated into everyday life.
When it comes to integrating AI with financial solutions, Hayes suggests that Bitcoin is the logical choice. According to an accompanying theory, AI will recognize Bitcoin’s qualities, such as its immutable fixed supply, digital scarcity, and its status as “energy money,” as the ideal characteristics for a currency. Hayes asserts that an AI would not rely on anything operated by a human government, making Bitcoin and gold the only suitable options. Ultimately, Bitcoin’s digital nature, censorship resistance, provable scarcity, and electricity-cost-dependent intrinsic value make it the frontrunner in this scenario.
Considering the impact of AI on Bitcoin’s price, Hayes predicts that the true effect of AI will be felt in about three years. From there, it could take an additional decade for the network value boost driven by AI to push BTC/USD to nearly $1 million. Hayes believes that the peak of irrational growth investing will occur between 2025 and 2026, creating a narrative that takes hold before that time. Depending on the scale of investment during that period, Bitcoin’s price could potentially reach $760,000 per coin. Hayes notes that the market tends to overpay for Bitcoin network growth when there is a possibility that his assumptions could become a reality.
It is worth mentioning that Hayes is well-known for his bullish long-term perspective on Bitcoin, having previously championed a million-dollar price tag for the cryptocurrency as a function of fiat currency disintegration.
In conclusion, Arthur Hayes argues that Bitcoin is the logical currency choice for AI due to its digital nature, scarcity, and intrinsic value. He predicts that as AI continues to integrate into various sectors, including finance, Bitcoin’s price could potentially reach $760,000 per coin. However, it is essential to note that this article does not provide investment advice, and readers should conduct their own research before making any financial decisions.
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