Arthur Hayes: AI Is Overbuilt, and Bitcoin Could Benefit From It
đ° Arthur Hayes, former BitMEX CEO, claims humanity is squandering trillions on AI data centers, predicting a crash and bailout that will favor Bitcoin and crypto.
đ He argues that historical tech rollouts often lead to overbuilding, resulting in cheap computing power and excess liquidity that crypto can absorb during financial crises.
đ Hayes suggests that while some AI firms may struggle financially, the demand for computing power could eventually make them profitable, with potential bailouts larger than those seen in 2008.
đ° Arthur Hayes, former BitMEX CEO, claims humanity is squandering trillions on AI data centers, predicting a crash and bailout that will favor Bitcoin and crypto.
đ He argues that historical tech rollouts often lead to overbuilding, resulting in cheap computing power and excess liquidity that crypto can absorb during financial crises.
đ Hayes suggests that while some AI firms may struggle financially, the demand for computing power could eventually make them profitable, with potential bailouts larger than those seen in 2008.