Arthur Hayes, a well-known cryptocurrency entrepreneur and essayist, recently revealed his fascinating perspectives on the future of cryptocurrencies, especially Bitcoin (BTC), and how they can interact with the fast expanding field of artificial intelligence (AI). Hayes makes two enticing forecasts in his most recent article that have the crypto world buzzing.
According to the first forecast, Bitcoin will become the main form of money used in artificial intelligence. Hayes contends that only Bitcoin has the characteristics of a blockchain-backed money that is impervious to censorship. He backs up his assertion by outlining Bitcoin’s advantages and claiming that it is inextricably related to the price of power, which is essential to any AI.
According to Hayes, Bitcoin’s supply is cryptographically limited, making it the perfect option for any AI looking for a trustworthy and scarcity-backed digital money. This is in contrast to fiat currencies and gold, which lack certain value or calculability.
Very triple-digit Bitcoin
Hayes elaborates on this idea in his second forecast, which explores the possible price increase of bitcoin should it come to dominate the AI economy. 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, including the size of the AI economy, the daily GDP value for 2022, Bitcoin’s capitalization to daily transaction value multiple, the velocity of payments, and the total supply of BTC.
Whether Bitcoin will become the standard money in the AI future is an open question. But there’s little question that Hayes’ prognostications and in-depth research will add to the ongoing conversation about the future of cryptocurrencies and their possible intersection with artificial intelligence.
