Crypto, AI Seen as $20 Trillion Megatrend by Bitwise

Crypto and AI could boost the global economy by $20 trillion by 2030, says a Bitwise report, highlighting their transformative potential across industries.

According to the research, the two industries might boost the world economy by $20 trillion combined by 2030.

By 2030, cryptocurrency and artificial intelligence (AI) might boost the world economy by a combined $20 trillion, according to a report released by asset management firm Bitwise on Wednesday.

Senior crypto research researcher Juan Leon stated that “the intersection of AI and crypto is going to be even bigger than people imagine” and that “two industries could add a collective $20 trillion to global gross domestic product (GDP) by 2030.”

“The competition for artificial intelligence dominance is causing an unparalleled scarcity of data centers, AI chips, and energy access,” Leon stated. He mentioned that the four biggest cloud providers are expected to invest roughly $200 billion in data center expansions by 2025, primarily to meet the increasing demand from AI firms.

Crypto and AI’S value

According to the research, AI companies may rely on the resources that Bitcoin (BTC) miners possess, such as powerful chips, advanced cooling systems, and related infrastructure. CoreWeave’s acquisition offer for miner Core Scientific (CORZ) last week indicates this need. The most prominent miner/AI collaboration to date was also revealed by Core Scientific, which agreed to pay $3.5 billion to host CoreWeaves’ AI-related services. According to Bitwise, Hut 8 (HUT), Iris Energy (IREN), and other miners have announced AI-hosting initiatives this year.

According to the paper, cryptocurrency and artificial intelligence (AI) have potential applications beyond Bitcoin mining, such as virtual assistants and information validation.