Bitcoin and AI: A Revolutionary Combination, Says Top Fund Manager

ARK Invest CEO Cathie Wood is an outspoken supporter of crypto and bitcoin (BTC). She is also optimistic about artificial intelligence (AI), also known as artificial intelligence. She particularly likes the combination of Bitcoin and AI. Via Twitter she speculates about the future possibilities that the cooperation between Bitcoin and AI can bring.

Cathie Wood relies on Bitcoin and AI

If AI and Bitcoin join forces, the implications could be far-reaching, says Wood. It could change the industry and even the entire economic landscape.

“The convergence of bitcoin and AI could change the way businesses organize. This will lead to a free cost fall and an increase in productivity.”

According to Wood. She points to a recent podcast on the subject that she herself participated in. ARK Invest, Wood’s aforementioned investment fund, recently published a research report on the importance of AI.

ARK’s belief in emerging technology is strong and the fund has already invested in several AI stocks. ARK also has an exchange fund in which AI stocks have a large stake: the ARK Disruptive Innovation ETF. The ETF posted a gain of more than 40 percent in the first half of 2023.

“Bitcoin as the lifeblood of AI”

Only time will tell what the combination between AI and Bitcoin will mean exactly. But in July, Arthur Hayes, former CEO of BitMEX, also speculated about this merger. In one paper, he even went so far as to say that Bitcoin could act as the “lifeline” of AI. In his opinion, Bitcoin is “all it takes for AI to stay alive.” For example, bitcoin isn’t permissionless, it’s always active, and it’s scarce.

This theory, in turn, ties into a plan Lightning Labs is developing. The company is developing ways for AI to leverage the Bitcoin network. It is still unclear exactly how this will turn out. Most likely, however, this means that AI applications can store, send and receive Bitcoin autonomously.

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