Anthony Pompliano Predicts AI and Bitcoin Role In Wealth Creation

According to Anthony Pompliano, AI and other breakthroughs in technology are going to spur the adoption of Bitcoin, which will disrupt virtually every industry imaginable.

The deep tech investors think that the AI will generate vast amounts of money and Bitcoin will assist in protecting this money.

HIGHLIGHTS

• Stone Road’s Anthony Pompliano has said that AI and Bitcoin are the kind of wealth-creating assets that are symbiotic in nature.
• His projection supports the proposition that both of these technologies could coexist to some extent.
• Bitcoin has mostly been reduced in price, which is good news for the supporters so they can buy more.

The Social Capital CEO & technology investor Anthony Pompliano has again returned directly to Squawk CNBC to share his opinions and forensic analytical logic on AI and Bitcoin.

Read more:- Is Bitcoin Futures Cash-And-Carry Trade Profitability Fading?

AI Investment to Impact the Bitcoin Price

Pompliano said this in light of the fact that before now, the concentration was mainly on Bitcoin and other cryptocurrencies as a whole. Today, it is done with the help of artificial intelligence, and Pompliano doesn’t consider that the pivot is something wrong. 

Instead, he believes there is an intersection area for both innovation technologies to concurrently exist. This is a perception that many have not developed the capacity to appreciate or grasp.

Indeed, the investor said more explicitly that the world is shifting to an era of automation where AI will spawn an unimagined amount of wealth. If this period exists, then Bitcoin would have to stand guard against AI, as Pompliano pointed out.

He thinks that investors’ decision to invest in AI instead is the reason for the current drop in Bitcoin price. Even more striking, traders were trading BTC at $60,379.22 at the time of writing this paper, including a 5 specifically in the journal entries for the last 24 hours, during which it decreased by 82%.

In addition, Anthony Pompliano believes that, as AI broadens and increasingly grows larger with more capital, investors will return to Bitcoin. He envisions the US economy growing with AI boosting GDP, possibly increasing demand for Bitcoin as confidence in AI grows, potentially driving up its price.

The so-called tech investor mentioned the decrease in the cost of BTC and pointed out that now is a timely opportunity to purchase even more of the coin.

Collision of AI and Blockchain Technology 

Indeed, this opinion correlates with the earlier article written by Robert Kiyosaki: the author of “Rich Dad Poor Dad”. The entrepreneur decided to purchase the cryptocurrency at a higher rate during the selloff period.

This is how Kiyosaki insisted that he would rather use a price drop to buy more bitcoins. He patiently buys bitcoin for his long-term portfolio, aiming to hold it forever like Warren Buffet.

It could not be that far from the truth as Pompliano was speaking of an integration between an AI system and Bitcoin. Interestingly, the last few months have seen several instances of convergence between AI and blockchain.

However, Reddit co-founder Alexis Ohanian also proposed a theory linking the possibility of AI and blockchain technologies crashing.

To this end, he says they are in a phase, especially one that has all the propensity to reach a season in which they shall seriously ‘inter phrase’ and after that support each other.

Shortly after proposing his theory, BytePlus, a subsidiary of ByteDance, expressed interest in partnering with Mysten Labs to integrate AI algorithms into the Sui Blockchain.