Arthur Hayes believes Bitcoin, with its digital, uncensorable, and scarce properties, is ideal for an AI-driven future.
As Bitcoin's value is intrinsically tied via mining to the cost of electricity — the “food of AI” as Hayes puts it — it provides an efficient and predictable store of value for AI systems over time, he argues, adding that “Bitcoin is the monetary instrument closest to representing pure energy.” “If Bitcoin is seen as likely to be — or even starts to be — used by AIs, then we could see two separate manias combine into one mega mania: the mania of wanting to escape inflation within the fiat financial system, and the mania of wanting to own a piece of the next phase of human and computer evolution'" Hayes said."The overlap of these two manias would likely drive investors to grossly overpay for growth, causing the value of the Bitcoin network to rise to silly levels.
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