Famous cryptocurrency entrepreneur and author Arthur Hayes recently revealed his fascinating perspectives on the future of cryptocurrencies, particularly Bitcoin (BTC), and how they can interact with the rapidly developing field of artificial intelligence (AI). In his most recent article, Hayes makes two exciting predictions that have the crypto community buzzing.
The main hypothesis is that Bitcoin will become the first currency for artificial intelligence. Hayes contends that AI needs a blockchain-backed currency that is censorship-resistant, and that only Bitcoin provides these characteristics. He supports his claim by emphasizing Bitcoin’s outstanding qualities and claiming that it is inextricably tied to the cost of electricity, which is essential to any AI.
According to Hayes, Bitcoin’s supply is cryptographically finite, unlike fiat currencies and gold, which lack definite worth or calculability, making it the ideal choice for any AI looking for a dependable and scarcity-backed digital currency.
Very triple-digit Bitcoin
Building on this idea, Hayes explores his second forecast, taking into account the potential price increase of Bitcoin should it become the dominant currency of the AI financial system. Hayes calculates an optimistic scenario in which the price of Bitcoin could soar to an astounding $760,000 per coin. He does this by using a variety of indicators, such as the size of the AI economy, the daily GDP value for 2022, Bitcoin’s capitalization to daily transaction value, the rate of payments, and the overall supply of BTC.
Whether Bitcoin will become the dominant currency during the AI era is still up in the air. However, Hayes’ forecasts and thorough analysis will surely add to the ongoing discussion about the direction that cryptocurrencies are going in and their possible intersection with synthetic intelligence.
