Nigel Green, founder and CEO, deVere Group, a financial technology (fintech) organisation, has stated that Bitcoin’s compatibility with artificial intelligence (AI) technologies is driving institutional investors to increase their exposure to the cryptocurrency.
“I believe the buzz surrounding AI is real – Nvidia’s shares, for example, have jumped almost 210% this year around its uses within AI. I think the AI boom is grounded in technological advancements and the potential to reshape industries across the board. The transformative capabilities of AI, coupled with its cross-industry disruption, data-driven nature, and innovation, can make it an investment opportunity. This is seemingly attracting institutional capital. These same institutional investors are believed to be recognising Bitcoin as the currency for the AI era and, therefore, are also increasing their exposure to the world’s largest cryptocurrency,” Green said.
According to an official release, Green stated that there are three reasons why Bitcoin is the currency for AI and why this synergy is attracting institutional money. “First, in the world of AI, data integrity is considered paramount. The ability to trust the source and history of data is crucial, whether it’s for training machine learning models or verifying the authenticity of data inputs. Bitcoin’s blockchain can provide a tamper-proof record that can be used to ensure data integrity in AI applications. Second, Bitcoin’s nature can facilitate cross-border transactions, enabling AI companies to access the resources they need without the limitations of traditional financial systems, such as high fees and lengthy processing times. Third, AI seems to rely on data, and organisations are seeking ways to monetise their data assets,” Green highlighted.
From what it’s understood, as AI continues to advance, new use cases for Bitcoin in AI applications should emerge. Research and innovation at the intersection of AI and crypto are likely to unlock opportunities for synergy between the two fields. Sources suggest that institutional investors can recognise the potential for returns on their investments in this space.
“As both Bitcoin and AI technologies continue to evolve, their integration can drive innovation and transformation in various industries, reshaping the way we perceive and interact with both digital currencies and artificial intelligence. The interest from institutional investors can underscore the potential of this partnership and validate Bitcoin’s role in the future of AI,” Green concluded..
