The influence of a Bitcoin spot ETF could not deter the dominance of artificial intelligence (AI) on display at the ongoing World Economic Forum (WEF) in Davos this year. This dominance of AI may divert investors’ focus from the Bitcoin spot ETF, as capital typically gravitates to where money and sentiment flows.
The influence of a Bitcoin spot ETF could not deter the dominance of artificial intelligence (AI) on display at the ongoing World Economic Forum (WEF) in Davos this year. This dominance of AI may divert investors’ focus from the Bitcoin spot ETF, as capital typically gravitates to where money and sentiment flows.
AI dominates cryptocurrencies despite Bitcoin ETF debut
The digital currency ecosystem made its landmark achievement this year after the United States Securities and Exchange Commission (SEC) gave the green light to spot Bitcoin ETF trading in the country.
Despite this hype, the presence of crypto companies at Davos was scarce compared to previous years. On the other hand, AI came into the spotlight as the new technology on the block, with almost every technology company praising its potential at the Davos forum. From the booths displaying visible AI emblems to the conversations and presentations, it was obvious that AI is seen as the new future of technology.
While this trend of sending AI to the background may be worrying, Dante Disparte, chief strategy officer at stablecoin issuer Circle, believes it’s not an entirely bad trend as it just shows that cryptocurrencies are maturing as a stack. technological.
“There’s a new tech kid on the block, which means I can become a classic player. And I don’t have to explain the tech as much, which is encouraging,” he said.
The emergence of the Bitcoin Spot ETF and the lack of a corresponding increase in BTC price could have dampened sentiment across the board to give AI the upper hand.
Collaborative push in AI and cryptography
While the duo of AI and crypto are two completely different technologies, the innovators of the Web3 ecosystem are trying their best to integrate both in creative ways. So far, the outlook is promising, as the industry has seen the rise of protocols such as Cardano’s flagship AI chatbot, Girolamo, and Bad Idea AI, a project affiliated with Shiba Inu.
In the long term, more direct integrations of AI and cryptocurrencies are expected on the way to the ultimate goal, which is to elevate human evolution.
