Technology investor Anthony Pompliano has once again shared his thoughts on the future of Artificial Intelligence (AI) and Bitcoin (BTC) on Squawk CNBC.
AI Investment To Impact on Bitcoin Price
Pompliano recalled that before now, the focus of many was on Bitcoin and the general crypto ecosystem. In the present day, the attention has shifted to AI and Pompliano does not think that the pivotal is detrimental. Rather, he thinks there is a common ground of intersection for both innovative technologies to co-exist. This is a sentiment that many have not come to understand.
When a decades-long trend is playing out, don’t get overly excited or scared based on day-to-day price movements.
Bitcoin is up 100% in the last year and 40% YTD.
Emotional control is key to compounding long-term.
Here is my segment from @SquawkCNBC this morning. pic.twitter.com/lQY9XjjV9X
— Pomp 🌪 (@APompliano) June 24, 2024
Precisely, the investor noted that the world is moving towards an era of automation where AI will create enormous wealth. When this era becomes a reality, Bitcoin’s responsibility would involve protecting the wealth from AI, per Pompliano’s statement. He believes that the drop in Bitcoin price is as a result of investors’ decision to put their funds on AI instead. Noteworthy, BTC was trading at $60,379.22 at the time of this writing with a 5.82% decrease in the last 24 hours.
Furthermore, Pompliano thinks that as AI expand and gets larger with more investment, investors will turn to Bitcoin. Once this happens, he sees the United States experiencing increased GDP from the productivity of AI. The capacity of Bitcoin to take part in this potential massive outlook of AI, could make the price of the coin to recover.
The tech investor highlighted the drop in BTC price, citing that it is a good time to buy more of the coin.
Collision of AI And Blockchain Technology
This sentiment resonates with an earlier post from author of “Rich Dad Poor Dad” Robert Kiyosaki. The serial entrepreneur mentioned his resolution to acquire more Bitcoin during this massive selloff period.
Kiyosaki noted that he would rather leverage a price dip to boost his Bitcoin holdings. Hence, he is waiting to buy more Bitcoin, after which he plans to hold on to his assets “forever,” similar to Warren Buffet’s strategy.
Pompliano’s talk about an intersection between AI and Bitcoin may not be far-fetched. In the last few months, there have been several integrations of AI and blockchain technology. Even Reddit co-founder Alexis Ohanian propagated a theory that involves the potential collision of AI and blockchain technology. He says both technologies are approaching a season when they will “collide” and thereafter reinforce each other.
Only a few weeks after the propagation of his theory, BytePlus, a unit of TikTok owner ByteDance hinted at plans to partner with Mysten Labs. This linkup is to integrate AI algorithms in the Sui Blockchain.
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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
