Bitwise Predicts $20 Trillion Boost from AI and Crypto by 2030

AI and crypto could add $20 trillion to the global economy by 2030, Bitwise reports, highlighting major opportunities in data centers and AI-hosting by Bitcoin miners.

Jun 12, 2024 - 11:01
Jun 12, 2024 - 11:01
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Bitwise Predicts $20 Trillion Boost from AI and Crypto by 2030
Bitwise Predicts $20 Trillion Boost from AI and Crypto by 2030

Artificial intelligence (AI) and cryptocurrency could together add $20 trillion to the global economy by 2030, according to a recent report from asset manager Bitwise.

In their Wednesday report, Bitwise highlighted the massive potential of merging AI and crypto technologies. Senior crypto research analyst Juan Leon emphasized that the combination of these two fields could be more impactful than most people currently anticipate. "The intersection of AI and crypto is going to be even bigger than people imagine," Leon stated, predicting that AI and crypto could significantly increase the global gross domestic product (GDP) by 2030.

Leon also discussed the intense competition in the AI sector, which has led to a huge demand for data centers, AI chips, and electricity. He pointed out that the four largest cloud companies are expected to invest around $200 billion in data center expansions by 2025 to support the rising needs of AI businesses.

The report further noted that Bitcoin miners have the necessary resources to support AI companies. These resources include powerful computer chips, advanced cooling systems, and strong infrastructure. This is evident from CoreWeave's recent offer to take over the miner Core Scientific. Moreover, Core Scientific announced a $3.5 billion deal to host CoreWeave's AI services, marking the largest partnership of its kind so far. Other mining companies like Hut 8 and Iris Energy have also started AI-hosting initiatives this year.

Besides bitcoin mining, AI and crypto could intersect in other areas such as verifying information and creating virtual assistants, adding even more value to their combined economic impact.

Also Read: Bitcoin Prepares for Big Moves Amid Fed Decision and US Inflation

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