Main navigation

Arthur Hayes Presents Two Mind-Blowing Bitcoin (BTC) Predictions

Fri, 07/07/2023 - 17:00
article image
Gamza Khanzadaev
Former BitMex CEO reveals how and why BTC could surge to $760,000
Arthur Hayes Presents Two Mind-Blowing Bitcoin (BTC) Predictions
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Renowned crypto entrepreneur and essayist Arthur Hayes has recently shared his intriguing insights on the future of cryptocurrencies, particularly Bitcoin (BTC), and their potential interaction with the rapidly growing realm of artificial intelligence (AI). In his latest piece, Hayes unveils two captivating predictions that have set the crypto community abuzz.

The first prediction posits that Bitcoin will emerge as the primary currency for artificial intelligence. Hayes argues that AI requires a censorship-resistant blockchain-backed currency, and only Bitcoin possesses such qualities. He supports his claim by highlighting Bitcoin's superior attributes, stating that it is intrinsically linked to the cost of electricity, which is the lifeblood of any AI.

BlackRock CEO Says Bitcoin Is New Gold

Unlike fiat currencies and gold, which lack definitive value or calculability, Bitcoin's supply is cryptographically finite, making it an ideal choice for any AI seeking a reliable and scarcity-backed digital currency, argues Hayes.

Very triple-digit Bitcoin

Building upon this notion, Hayes delves into his second prediction, contemplating the potential price surge of BTC should it become the dominant currency of the AI economy. Drawing upon various indicators, including the size of the AI economy, the daily GDP value for 2022, Bitcoin's capitalization to daily transaction value multiple, the velocity of payments and the total supply of BTC, Hayes calculates an optimistic scenario where the price of Bitcoin could skyrocket to an astounding $760,000 per coin.

3 Reasons Why Bitcoin (BTC) Is Dropping Below $30,000

It remains to be seen whether Bitcoin will indeed ascend as the dominant currency of the AI era. However, Hayes' predictions and in-depth analysis will undoubtedly contribute to the ongoing discourse surrounding the future of cryptocurrencies and their potential convergence with artificial intelligence.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.