There is a big possibility that Bitcoin could potentially suck all the prosperity gains in the near future and leave behind those who have had no exposure to it as a result. In a thread on Twitter made on 8th July, Luke Broyles, an investor, put forth a bold prediction of how this cryptocurrency will turn out to be society’s base money.
The Twitter thread initially started off as a commentary on how the AI will welcome BTC, which soon turned into a dramatic outline of how it will end up as the go-to currency of the world. For Broyles, the key attribute of the cryptocurrency- which is an immutable, fixed supply- is what makes it pretty interesting as a future-proof asset.
Bitcoin Could Be The Base Money Of The Future
The investor wrote that every innovation using AI would rush as quickly as possible in order to competitively force the prices down. This will result in the countries rushing as quickly to mint currency in order to force the prices up and sustain the credit markets- which will result in both of the forces increasing in speed. On the other hand, Bitcoin will still remain pretty constant in its emission, and as a result of which, even a tiny exposure would be a world away from nothing at all.
This perspective does resonate with the published material of Arthur Hayes, the former CEO of BitMEX, the crypto derivatives exchange. As reported by Cointelegraph, Hayes believes that AI will definitely choose Bitcoin as its financial lifeblood- solely due to its unique qualities when compared to the rest of the assets, which include gold. As a result, it wouldn’t be surprising to see AI pushing the cryptocurrency price beyond $750,000 per token.
