The Crypto Assets and AI Technology Market to Reach $20 Trillion by 2030, Predicts Senior Analyst

The Crypto Assets and AI Technology Market to Reach $20 Trillion by 2030, Predicts Senior Analyst
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Bitwise's senior analyst has forecasted that within six years, the combined market of digital assets and AI technology will reach $20 trillion. He believes these industries are closely intertwined and will continue to strengthen this connection.

Juan Leon, senior analyst at Bitwise Asset Management, stated that by 2030, the total volume of the artificial intelligence and crypto assets industry could reach $20 trillion.

He notes the growing connection between the two sectors, which in the coming years will result in an intertwined market of high-tech products and services. As an example, Juan cited the collaboration between AI startups and bitcoin miners.

It's worth mentioning that Core Scientific announced a 12-year agreement with CoreWave to provide infrastructure with a capacity of 200 MW. The partnership is expected to bring the bitcoin miner $3.5 billion. Following the announcement of the agreement, the mentioned cloud computing provider expressed a desire to acquire Core Scientific for over $1 billion, Bloomberg reports. CoreWeave's offer represents a 55% premium to the three-month weighted average price of the bitcoin miner as of May 31, 2024.

Leon also pointed to similar initiatives to lease infrastructure to AI firms by companies like Iris Energy and Hut 8.

The Bitwise analyst believes that this trend will intensify. The AI market's need for significant computing power is forcing its representatives to pay attention to cryptocurrency mining companies, Leon said. At the same time, miners face the need to diversify their business due to falling revenues after the fourth bitcoin halving, he notes.

The analyst also pointed to the recent achievement of Nvidia Corporation, which reached a market value of over $3 trillion. The company is one of the key manufacturers of AI chips, the expert emphasized. In his opinion, this situation demonstrates the rapid expansion of the segment and, as a result, the growing need for data centers and electricity.

Collaboration between startups specializing in artificial intelligence and bitcoin miners is a current reality, said the Bitwise representative.

However, there are other options for cooperation between the digital assets sector and the AI industry, Leon is confident. These include information verification and the use of blockchain for advanced identification methods. All this will lead to a deep mutual integration of the two sectors, he emphasized.

It is worth recalling that Ethereum project co-founder Vitalik Buterin warned against the hasty creation of superintelligent AI.