The Development of AI Boosts Bitcoin Growth, the Next Cycle Will Be the Most Powerful

The development of artificial intelligence is becoming a key factor in the increasing value of Bitcoin as a scarce asset, according to Simon Gerovich and Matt Cole, leaders of corporate Bitcoin holders. They argue that AI enhances the value of unique assets. Other factors contributing to Bitcoin's long-term growth include its rising price relative to gold and the weakness of the dollar. Gerovich notes that AI reduces the cost of producing digital products, making the cap on the issuance of 21 million BTC coins more significant. Cole believes that AI creates structural changes that contribute to a powerful bullish cycle for Bitcoin. He emphasizes that scarce assets like Bitcoin, gold, and silver will benefit from this trend. Bitcoin rose by 23% last week, marking the largest percentage increase in recent years, following the U.S. government's bond-buying measures. The price of Bitcoin climbed from $63,000 to nearly $80,000 in the week ending August 23. Cole highlights two additional factors: the weakening dollar and the rising price of Bitcoin relative to gold, which may signal the end of the bear market.

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