Exchange CEO: AI May Attract Bitcoin Mining Energy in the Long Term, but BTC Price Is Still Primarily Driven by Inflation Expectations

Odaily reported that a certain exchange’s CEO, Brian Armstrong, responded on the X platform to Chamath Palihapitiya’s views regarding changes in the Bitcoin market. Armstrong stated that, of the two issues Chamath raised, the phenomenon of marginal liquidity shifting towards prediction markets and the stock market for speculation may be only temporary, whereas the trend of Bitcoin mining energy shifting toward AI computing demands could have more long-term effects.

Armstrong also pointed out that the hash rate or energy input for Bitcoin mining does not determine the price of Bitcoin (if miners exit, network difficulty will automatically adjust to maintain the same block production pace). In the long term, the Bitcoin price mainly reflects people’s concerns about inflation, and at present, the persistent fiscal deficits in governments worldwide show no sign of ending.