CoinDesk·3 min read·hard
Live updates: An AI credit bubble could set up bitcoin’s path to $1 million
S
Shaurya Malwa
✦AI Summary
Arthur Hayes, co-founder of BitMEX, suggests that the current AI infrastructure buildout is a credit-driven bubble similar to the 2008 financial crisis. He predicts that eventual market instability will lead to government liquidity injections, which he believes will drive Bitcoin prices toward $1 million.
In a new essay , the co-founder of crypto exchange BitMEX and crypto fund Maelstrom said the ongoing infrastructure buildout is a credit story like 2008, not an earnings story like the 2000 dot-com bust.
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