BitMex co-founder Arthur Hayes says Bitcoin (CRYPTO: BTC) retaking $126,000 is a foregone conclusion, arguing that trillions in AI spending and wartime money printing will fuel the rally as the crypto bottomed at $60,000 earlier this year.
AI Spending And War Create Perfect Environment For Bitcoin
Hayes laid out his thesis in a new essay titled “The Butterfly Touch,” arguing that the combination of AI buildout and the US-Iran war creates the perfect environment for Bitcoin.
The political will to win the AI race combined with funding the buildout through printed money and bank loans produces vastly more units of fiat tomorrow than today.
Hayes explained that as the cost per unit of intelligence declines, the complexity of models and tasks performed by AI agents increases. That means compute consumption increases exponentially, which is the essence of Jevons Paradox.
When Does The …
