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Hayes's risky move: AI failure may boost Bitcoin
Arthur Hayes, the former CEO of the "BitMEX" platform, predicts that a significant surge in the field of artificial intelligence could lead to a bubble filled with excessive investments, followed by a crisis and collapse, then a rescue plan that drives up cryptocurrency prices. He pointed out that massive expansions in building data centers will make computing power cheap and widely available, potentially leading to an oversupply and a repetition of past crashes, such as the 2008 financial crisis. He believes that investors who warn against bailout steps will profit, with expectations that over-expansion and financial collapses will recur in the history of major technologies.
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