Arthur Hayes, the former CEO of BitMEX, believes an AI crash could be bullish for Bitcoin. He argues that massive investments in AI data centers are heading toward oversupply and could trigger a credit crisis. In that scenario, governments and central banks would intervene by injecting liquidity into the financial system, with Bitcoin and cryptocurrencies being the main beneficiaries. Hayes compares this cycle to the one that preceded the 2008 financial crisis and sees this scenario playing out around 2027-2028, when companies will need to prove they can justify their substantial compute costs.
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