With the launch of the American spot ETFs, a new era has begun for bitcoin (BTC). At least that’s what Michael Saylor, perhaps the greatest bitcoin of all time, believes. According to Saylor, this new era can best be compared to a gold rush.
The bitcoin ‘gold rush’ has begun
On the Bitcoin Atlantis conference, Saylor spoke out about this new bitcoin era. He believes that since the launch of the ETFs, we have entered a period of “strong growth in institutional adoption.”
“I think we are in the bitcoin gold rush. It started in January 2024 and will continue until November 2034.”
Said Saylor. But why this specific end date of the bitcoin ‘gold rush’? By 2035, 99 percent of all bitcoins will have been mined, which means that the distribution of bitcoins will more or less be over. The last 1 percent will then be mined over the next hundred years. Currently, 93.5 percent of all BTC have been mined.
The ETFs are just the beginning, according to Saylor. According to him, there will come a time when all banks will facilitate the purchase and management of bitcoin. The inflow of capital to the bitcoin ETF funds will also continue and will eventually surpass the value of gold and the S&P 500 index.
However, this will not be a matter of months but a matter of years, Saylor thinks. Then, in 2034, Bitcoin will be the financial standard and will enter a so-called ‘growth phase’.
Bitcoin in AI
He also made an interesting statement at the conference about artificial intelligence (AI). AI is of course indispensable in today’s digital world, and bitcoin will also have similarities with AI, Saylor thinks.
For example, autonomous AI will require digital energy, he believes. And this will be bitcoin. Remarkably, this is a claim that Arthur Hayes, the former CEO of BitMEX, also made last year. He said at the time that Bitcoin is all AI needs to stay alive. For example, Bitcoin is permissionless, always on and scarce. Read more about this interesting theory about the symbiosis between AI and bitcoin in this article.
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2024-03-04 17:03:18
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