Spot Bitcoin ETFs have ignited a frenzy among institutional investors, leading to a surge in demand for Bitcoin. MicroStrategy co-founder and executive chairman, Michael Saylor, believes that the rise of autonomous artificial intelligence (AI) will further fuel this institutional adoption. Speaking at the Bitcoin Atlantis conference, Saylor stated that the launch of spot Bitcoin ETFs has marked the beginning of a period of high growth institutional adoption for Bitcoin.
Saylor predicted that by 2035, 99% of all Bitcoin will have been mined, signaling the start of a significant growth phase. Currently, approximately 93.5% of the total 21 million Bitcoin supply has been mined. While spot Bitcoin ETFs currently serve as a distribution channel for only a fraction of interested investors (10-20%), Saylor anticipates that this number will eventually reach 100% as banks and institutional wirehouses facilitate Bitcoin trades.
Saylor also emphasized the role of autonomous AI in driving demand for Bitcoin. He believes that as bad actors exploit the AI revolution, Bitcoin will play a crucial role in securing the internet. Furthermore, Saylor highlighted the synergy between Bitcoin and autonomous AI, as the latter will require digital energy to operate effectively.
Addressing concerns about Bitcoin’s environmental impact, Saylor argued that the cryptocurrency has become increasingly energy-efficient. As a result, politicians and environmental lobbyists are shifting their attention to the energy demands of AI. Saylor expects them to focus their efforts on AI rather than Bitcoin in the future.
During the same panel discussion, investment strategist Lyn Alden discussed the potential increase in Bitcoin demand as nation-states embrace the cryptocurrency. Alden stated that adopting Bitcoin can create more financial hubs, attracting capital to these countries in the long term. She also criticized countries that restrict or ban Bitcoin out of fear that it may threaten their own currency, noting that such measures are ineffective and hinder investment opportunities.
Lawrence Lepard, an investment manager and Bitcoin advocate, added that capital controls imposed by oppressive regimes often drive adoption. He cited Nigeria as an example, where despite a previous ban on Bitcoin and cryptocurrencies, the country has the highest peer-to-peer market volumes globally.
In conclusion, the emergence of spot Bitcoin ETFs has sparked a surge in institutional interest in Bitcoin. The rise of autonomous AI is expected to further drive this adoption, with Bitcoin playing a vital role in securing the internet and meeting the energy demands of AI. Additionally, Bitcoin’s acceptance by nation-states and the failure of capital controls to deter adoption illustrate the growing prominence of the cryptocurrency.
Michael Saylor predicts a decade of Bitcoin's 'gold rush' fueled by AI and ETFs.