Artificial intelligence will create significant wealth, and bitcoin will play an important role in preserving this new state - Anthony Pompliano (well-known investor and founder of Pomp Investments)
Pompliano noted that many people used to focus on Bitcoin and the crypto sector in general. Today, the focus has shifted to artificial intelligence, and in his opinion, this is not a bad thing.
“But I think people are kind of missing that these are actually part of the same trend.” he said.
The investor points out that the world is moving towards an era of automation, when artificial intelligence will create enormous wealth. And when this era becomes a reality, bitcoin's responsibility will be to protect it from AI.
“When you see these technologies coming together, an easy way to see the intersection is what money are these machines going to use?” Pompliano stated during the interview.
He believes that as artificial intelligence develops and grows through investment, investors will return to Bitcoin. When this happens, he is convinced that the United States will experience a GDP growth thanks to the productivity of AI.
Bitcoin's ability to participate in this potential massive artificial intelligence development could lead to a recovery in the coin's price.
In his opinion, the recent drop in bitcoin is the result of investors' decision to invest in artificial intelligence. But Pompliano isn't worried about the current 15% price drop, pointing out that bull markets typically see several price pullbacks of 30% or more.
“A lot of people in public markets say “invest in until May and go away” and as a result, the second and third quarters tend to trade sideways — particularly in halving years” he explained.
Pompliano believes that a similar situation is observed now, but expects another price rally to take place in the last quarter or early 2025, which is also a historical trend in halving years.
Source https://mirror.xyz/0xCB5faAd7eD04a1676Cc88e57139aD35c8F279c64/SaDx2nDiWZYn2RQ0YvRSIY9egf_s05ypeEUb_F9GdHI
