The growing rivalry in artificial intelligence investment between the United States and China has sparked a wave of increased spending on AI-related technologies. This development has led some market analysts, including Arthur Hayes, to predict significant benefits for Bitcoin.
Hayes argues that the massive credit expansion resulting from this competition will drive investors towards alternative assets like Bitcoin, which is seen as resistant to inflation and currency debasement. He believes that the cryptocurrency's fixed supply of 21 million coins makes it an attractive store of value during periods of economic expansion.