How AI Can Boost Bitcoin Price to $760,000, Says Former BitMEX CEO Arthur Hayes

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Former BitMEX CEO Arthur Hayes believes Bitcoin will become the native currency of AI-powered economies and will reach over $750,000 in the process. Hayess’ logic relies on the inherent attributes of benchmark cryptocurrencies that could make it interoperable with the rapidly growing field of artificial intelligence.

Hayes calls BTC the logical currency choice for AI

In his latest intriguing piece titled Massa, Arthur Hayes delved into the potential integration of Bitcoin and artificial intelligence (AI).

According to Thursday’s blog post, the famous crypto trader suggested that Bitcoin would become the dominant currency for AI. He argued that the key attributes of cryptos as a purely digital, censorship-resistant, and digitally rare currency make it the most suitable choice for AIs.

Bitcoin is therefore the logical currency choice for any AI. It is purely digital, censorship-resistant, rare, and its intrinsic value depends entirely on the cost of electricity. There is nothing today that comes close to challenging Bitcoin on these aspects.

Hayes added that compared to fiat currencies and gold, which have no indisputable value or quantification, Bitcoin’s immutable supply is programmatically capped at 21 million coins, making it a logical choice for any IA in search of a reliable currency and registered in clear and transparent rules. from the start.

Bitcoins road to a price of $760,000

Where would an eventual convergence between Bitcoin and AI leave the first cryptocurrency?

Hayes predicted that Bitcoin could reach a staggering $760,000 per coin thanks to an AI boost.

If Bitcoin is considered likely to be or even begins to be used by AI, then we could see two distinct manias combine into one mega-mania: the mania of wanting to escape inflation within the fiat financial system and the mania for wanting to own something from the next phase of human and computer evolution, Hayes said. The overlap of these two fads would likely cause investors to grossly overpay for growth, driving the value of the Bitcoin network to ludicrous levels.

Arthur Hayes is no stranger to exorbitant price predictions. In April 2022, the industry stalwart explained how the catastrophic loop of Western financial policies would drive Bitcoin to $1 million by 2030.

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