Copy link
Increase text size
Decrease text size
Link copied

Pompliano: Bitcoin Will Safeguard Wealth Created by AI in the Next Decade

Pompliano predicts Bitcoin will safeguard AI-generated wealth in the next decade.

Tue, 25 Jun 2024, 09:13 am UTC

Anthony Pompliano, venture capitalist and Bitcoin advocate, predicts that Bitcoin will protect wealth generated by AI technologies in the coming decade. He emphasized that both technologies will work together to drive economic growth and secure assets.

Anthony Pompliano Predicts Bitcoin Will Secure AI-Generated Wealth, Boosting Economic Growth Over the Next Decade

As Cointelegraph reported, Anthony Pompliano, a venture capitalist and Bitcoin bull, predicts that Bitcoin will be preferable for safeguarding AI-generated wealth in the coming decade.

“We are going into this automated world where AI is going to create enormous amounts of wealth, and Bitcoin is going to protect that wealth,” the Pomp Investments founder explained to CNBC in a June 24 interview.

Pompliano refuted that AI has supplanted Bitcoin and the broader cryptocurrency industry as the new hot tech trend, stating that the two technologies will operate in conjunction over the next decade.

“There’s a potential that GDP will actually increase because of the productivity from AI and then Bitcoin being able to protect a lot of this wealth,” Pompliano said. “I think that people looking at this as what’s going to happen day-to-day or week-to-week are missing this huge tailwind for the next decade.”

“When you see these technologies coming together, an easy way to see the intersection is what money are these machines going to use?”

Bitcoin experienced a seven-week nadir of $59,086 on June 23.

Mt. Gox Sale and ETF Outflows Fuel Bitcoin's Price Decline, but Pompliano Remains Optimistic

The primary source of negative sentiment has been M Gox's impending sale of $8.5 billion in Bitcoin to its creditors and exchange-traded fund outflows exceeding $1 billion in the past 10 trading days.

In addition, Bitcoin producers have implemented an extensive selloff operation. As a result, the Crypto Fear & Greed Index indicates that the sentiment toward Bitcoin and cryptocurrency markets has dropped to the "Neutral" zone, with a score of 51 out of 100.

It was in the "Greed" zone, with a 71 out of 100 score last week.

However, Pompliano is unconcerned by the current 15% price decline, noting that bull markets frequently experience multiple price dropbacks of 30% or more.

Pompliano explained that the second and third quarters trade sideways, particularly in halving years, because many individuals in public markets say, "Invest in until May and go away."

Pompliano believes that this is occurring once more; however, he anticipates that there will be another price increase in the final quarter or the beginning of 2025, which has also been a historical trend in years with a 50% decrease.

Photo: Microsoft Bing

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

Back to top
Copyright ⓒ TokenPost. All Rights Reserved.