AI has potential to send Bitcoin price over $750K — Arthur Hayes

cointelegraph.com:

Bitcoin (BTC) will be the currency of artificial intelligence (AI) and could reach a price per coin of $760,000 in the process, Arthur Hayes says.

In his latest essay titled “Massa,” the former BitMEX CEO concluded that the AI revolution would naturally gravitate toward BTC.

Despite fiat currency regimes being destined to become evermore dysfunctional in future, Hayes says, there is one burgeoning economic sector which will only go from strength to strength: AI.

While still nascent in 2023, the coming decades will see an explosion of AI-related implementations which will make it ubiquitous and unavoidable.

“Recent advancements in computing power have brought us to the cusp of a hockey stick moment, in which AI will go viral and change the course of humanity virtually overnight,” he wrote.

When it comes to integration, the financial solution on the table first and foremost, Hayes says, will not be a tailor-made, AI-focused altcoin; it will be Bitcoin instead.

The reason, an accompanying theory states, is that AI will view Bitcoin’s inherent qualities — an immutable fixed supply, digital scarcity and its status as “energy money” — as the logical choice.

“An AI is unlikely to allow itself to rely on anything that a human government operates therefore only gold and Bitcoin are suitable. A tie between gold and Bitcoin,” Hayes continued.

Where would that leave the BTC price?

Related: BTC price remains ‘undoubtedly bullish’ as $30K Bitcoin buyers emerge

From around $30,000 today, the real effect of AI should kick in in around three years’ time.

After that, Hayes says, it could be around another decade before the network value boost from AI alone sends BTC/USD to nearly $1 million.

“I believe the peak of deranged growth investing will