Bitcoin (BTC) has the potential to become the currency of choice for artificial intelligence (AI), according to Arthur Hayes, the former CEO of BitMEX.
In his recent essay titled “Massa,” Hayes argues that as fiat currencies become increasingly dysfunctional, the AI revolution will flourish, leading to a surge in BTC adoption.
Hayes predicts that the price per coin could reach $760,000 as a result.
Hayes believes that the future will witness a significant expansion of AI-related applications, making AI an integral part of everyday life.
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The rapid advancements in computing power have brought us to the verge of an AI explosion that will revolutionize humanity.
Hayes cites the example of ChatGPT, which acquired 100 million monthly active users in just two months, highlighting the unprecedented pace of technological adoption.
When it comes to financial solutions for AI integration, Hayes suggests that Bitcoin, rather than a tailor-made altcoin, will be the preferred choice.
This is because AI systems are likely to perceive Bitcoin’s qualities, such as its fixed supply, digital scarcity, and status as “energy money,” as the most logical option.
AI systems are unlikely to rely on anything operated by human governments, thus making Bitcoin and gold the most suitable choices.
Hayes also outlines a potential path for Bitcoin’s price to reach $1 million.
He anticipates that the real impact of AI will be felt in approximately three years, and it could take another decade for the network value boost driven by AI alone to push BTC/USD to nearly $1 million.
Hayes emphasizes that his predictions aim to create a narrative that gains traction before the peak of what he calls “deranged growth investing” in 2025 to 2026.
Depending on the extent of investment, Bitcoin’s price could surge to $760,000 per coin.
Hayes concludes by stating that the market is most lucrative when it shifts from believing something is impossible to considering it as a possibility.
His optimistic outlook on Bitcoin’s future price is based on the expectation that the market will overvalue Bitcoin’s network growth if it sees a chance of his assumptions coming true.
Arthur Hayes is renowned for his bullish long-term perspective on Bitcoin and has previously advocated for a million-dollar price target, attributing it to the disintegration of fiat currencies.
