AI Coins Surge Amid Bitcoin’s Rise, Santiment Reports; Michael Saylor Highlights AI’s Potential in Bitcoin Demand
Crypto News – Amidst the recent surge in cryptocurrency prices, particularly Bitcoin (BTC), artificial intelligence (AI) and big data projects have experienced notable gains, as per reports from blockchain analysis platform Santiment.
According to a post on the social media platform X (formerly Twitter), Santiment indicated that AI-focused coins saw a significant uptick, seemingly driven by investors diverting their attention from Bitcoin and various meme coins to capitalize on buying opportunities during dips.
Santiment highlighted a specific wallet containing over 100 AI-focused digital currencies from its watchlist, which observed a remarkable 30.7% increase in value within the last 24 hours. The platform established this watchlist back in late February, coinciding with notable surges in AI projects such as Delysium (AGI), SingularityNET (AGIX), and Artificial Liquid Intelligence (ALI), evidenced by substantial green candles on their weekly charts.
Michael Saylor, the former chief executive and executive chairman of MicroStrategy, a prominent American business intelligence software firm, emphasized in a recent interview the pivotal role AI could play in driving the demand for Bitcoin.
Saylor highlighted the promising intersection between the AI and Bitcoin sectors, suggesting that integrating Bitcoin into AI developments could create intriguing demand dynamics. He remarked, “If you want to create an AI version of yourself and have it live on the internet forever, you better give it some Bitcoin. So I think there’s going to be an interesting demand function there.”
Addressing concerns regarding Bitcoin’s environmental impact, Saylor pointed out the burgeoning energy requirements of many AI projects. He noted projections indicating that AI initiatives aim to scale up to 60 gigawatts this year, with ambitions to reach 600 gigawatts within a decade. Saylor expressed confidence that these AI projects will ultimately dispel energy-related fears associated with Bitcoin, inheriting and addressing the same criticisms the digital asset sector once faced.
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