Bitcoin - A Solution to Financial Crisis and Cryptos Versus AI

By: Eliza Bennet

Strike's CEO, Jack Mallers, recently highlighted Bitcoin's potential to address critical global financial crises arising from the state of central banking and the escalating debt crisis during an interview. Primarily, Bitcoin is seen as a solution to the staggering global debt-to-GDP ratio, which currently stands at an alarming 360%, representing a situation where government debt seems unfeasible to repay.

Mallers described Bitcoin as 'the only innovation' capable of serving as a global reserve currency and solving the 'central banking problem.' Bitcoin is suggested as a hedge against currency debasement and potential inflation caused by governments printing more money to address their debt.(source)

On the contrary, the Strike CEO held a different view on Ethereum. Mallers labelled Ethereum as a 'tech play' rather a stable financial instrument. Ethereum’s success is considered heavily reliant on technological advancements and acceptance in broader applications, such as finance and tech, being more speculative and compared to equities.(source)

In the AI sphere, an AI Developer refuted the documentation of his AI chatbot model, calling it out for out-of-context depictions in a recent film screened at Sundance Film Festival. Furthermore, Joe Lonsdale, Co-Founder of Palantir, suggested in a separate forecast that AI agents could potentially be significant 'purchasers' of cryptocurrencies in the future.(source)