Arthur Hayes Foresees Bitcoin as the Premier Currency for Artificial Intelligence

Arthur Hayes, the former CEO of Bitmex, has recently published a thought-provoking blog post asserting that bitcoin is poised to become the primary currency for artificial intelligence (AI). Hayes argues that in the evolving landscape of AI, bitcoin’s characteristics make it the ideal currency, given its accessibility, digital nature, and complete automation.

Arthur Hayes Envisions Bitcoin and AI Forming a Synergistic Alliance, Envisioning Price Surges to $760,000 Hayes, known for his insightful analysis, has penned numerous essays on his cryptohayes substack.com blog. In his latest piece dated July 6, 2023, he delves into the intersection of bitcoin and artificial intelligence (AI). Hayes envisions a future where bitcoin plays a pivotal role in the development of AI, asserting that the dominant cryptocurrency will serve as the “fuel” for AI systems. He predicts that as AI and robotics increasingly tackle mundane tasks, humanity will be liberated to pursue creativity, innovation, and cultural endeavors, leading to a renaissance of sorts.

In his essay, Hayes posits that bitcoin (BTC) will emerge as the preferred currency for AI systems. He elaborates on how AI platforms require a payment infrastructure that is digital, automated, and resistant to censorship—attributes that traditional banking and fiat currencies lack. Blockchain technology, particularly embodied by BTC, offers these desirable features due to its limited supply, censorship resistance, and energy purchasing power. Hayes contrasts BTC with gold and fiat currencies, highlighting their shortcomings in the digital age. He asserts:

“Bitcoin is the monetary instrument closest to representing pure energy.”

While acknowledging gold’s historical longevity as a currency, Hayes contends that BTC surpasses it in terms of censorship resistance, long-term value retention, and scarcity.

Hayes anticipates a significant surge in BTC’s

price if AI and bitcoin converge as he envisions. Drawing from his analysis of the potential impact of this synergy on the cryptocurrency market, Hayes suggests that BTC could reach $760,000 within the next two to three years.

“Remember — the market will overpay for Bitcoin network growth if it believes there is a possibility that my assumptions could be true in the future,” Hayes concluded. “The most money is made when the market price adjusts from ‘can never happen’ to ‘maybe could happen.’”

What are your thoughts on Arthur Hayes’ assertion that bitcoin will become the preferred currency for AI? Do you believe such convergence could indeed lead to a significant surge in BTC’s price? Share your insights and opinions in the comments section below.

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