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The bitcoin price has dropped to around $60,000 per bitcoin from an all-time high of over $70,000 in March—with one smaller bitcoin rival suffering a price crash over the last week.
Now, as more details of Donald Trump’s mystery crypto project trickle out, the chief executive of major bitcoin and crypto exchange Coinbase has issued an artificial intelligence (AI) prediction that could be a crypto market game-changer.
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Coinbase chief executive Brian Armstrong has predicted artificial intelligence could be a … [+]
“This week at Coinbase we witnessed our first AI to AI crypto transaction,” Coinbase’s Brian Armstrong posted to X.
“What did one AI buy from another? Tokens! Not crypto tokens, but AI tokens (words basically from one LLM to another). They used tokens to buy tokens,” Armstrong said, referring to the large language models (LLMs) such as OpenAI’s ChatGPT, alongside a “mind-blown” emoji.
The AI boom though this year and 2023 has fueled an explosion in technology stocks and helped support the bitcoin and crypto market as traders bet AI will open up new revenue opportunities and cost savings.
“AI agents cannot get bank accounts, but they can get crypto wallets,” Armstrong said. “They can now use USDC
USDC
Some have questioned whether the AI investment hype will translate into tangible use cases, with critics arguing the technology is not yet ready for mass adoption.
According to Armstrong, one of the limitations of existing AI programs is their inability to transact online—something he claims could be done with crypto—and called on developers to try integrating a crypto wallet to their programs.
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The bitcoin price has surged over the last year but has recently lost momentum, with the bitcoin … [+]
“And if you are a company that sells a service—get ready for your shopping cart to be AI checkout enabled,” Armstrong said. “It turns out everyone benefits from having access to good financial services, including AIs! How big will the AI to AI economy be a few years from now,” Armstrong asked.
The bitcoin and crypto market remains closely correlated to the stock market and specifically to high-risk tech stocks that have rocketed this year thanks to hype around AI.
Coinbase, the largest U.S. bitcoin and crypto exchange in the U.S. by volume, has seen its share price swing wildly along with the bitcoin price and the wider crypto market since its Nasdaq debut in 2021 at the height of the bitcoin price bull run.