• BitMEX founder Arthur Hayes predicts that one red-hot tech sector could send Bitcoin (BTC) soaring by more than 2,400%.
• He believes that AI will naturally gravitate to blockchain technology for its inherent qualities, including transparency and strict rules.
• If the AI economy relies on Bitcoin as its core payments system, Hayes predicts that BTC could reach $760,591 – a potential increase of 2,410% from current prices.
BitMEX Founder Predicts AI Could Send Bitcoin Soaring
BitMEX founder Arthur Hayes believes that the introduction of artificial intelligence (AI) could send Bitcoin (BTC) surging up to 2,410% over the next ten years. In a new blog post, Hayes argues that AI will need a digital payments system with clear and transparent rules which can only be powered by blockchain technology. As such, he claims that Bitcoin is the logical currency choice for any AI and may become an essential part of the global economy in the coming decade.
Why Blockchain Technology Is Suitable For AIs
According to Hayes, AIs need a digital payment system with clear and transparent rules which cannot be changed arbitrarily by any single entity. It must also be censorship resistant from the outset. Blockchain technology offers all these features and is thus suitable for powering AI-related payments systems; this makes Bitcoin an ideal currency choice due to its digital nature and electricity-cost dependence.
AI Expected To Fuel Economic Growth
Hayes goes on to say that AI will likely fuel economic growth over the next decade and suggests it could account for between 5% to 50% of global GDP during this time frame. Should the AI economy rely on Bitcoin as its core payments system then it is possible for BTC prices to reach $760,591 – representing an increase of more than 2,400%.
The Market Will Overpay For Network Growth
Hayes also points out that if there is a possibility his assumptions may come true in future then market price adjustments are likely; meaning investors would be willing to pay more for growth in the network size. This could lead to further gains for BTC price in addition those outlined above.
Overall, based on his predictions BitMEX founder Arthur Hayes believes that introducing artificial intelligence into the global economy could result in huge gains for Bitcoin prices over the next decade – potentially reaching upwards of $760,591 or 2,410%.