Bitcoin’s AI-driven rally faces a hidden danger if the machines get richer but workers don’t
Bitwise CIO Matt Hougan claims an AI productivity boom drives Bitcoin higher, but a Bank for International Settlements working paper warns of risks if AI automates labor instead.
In an October 14 memo, Bitwise Chief Investment Officer Matt Hougan asserted that nearly all macroeconomic scenarios ultimately drive Bitcoin higher, pointing to an exceptional artificial intelligence productivity boom that increases the value of scarce assets. However, just two days prior, the Bank for International Settlements released a working paper outlining a different trajectory, in which AI automates labor and elevates…
Frequently Asked Questions
01What did Bitwise CIO Matt Hougan claim about Bitcoin?
Matt Hougan stated in an October 14 memo that nearly every macroeconomic path leads to higher Bitcoin prices, including an AI-driven productivity boom that boosts the value of scarce assets.
02What did the Bank for International Settlements working paper suggest?
Published two days before Hougan’s memo, the Bank for International Settlements working paper models a fourth macroeconomic path where AI automates work.
