AI could be a boon for Bitcoin if it leads to monetary easing, says analyst

The advancement of artificial intelligence could be a positive catalyst for Bitcoin's price if it disrupts the labor market and prompts central banks to ease monetary policy, according to a new analysis. In a recent report, Greg Cipolaro, Head of Research at cryptocurrency services firm NYDIG, explained that AI is likely to become a general-purpose technology similar to electricity, Cointelegraph reported. He argued that the macroeconomic effects of AI on employment, economic growth, and risk appetite will consequently influence Bitcoin. Cipolaro added that if AI's growth is coupled with expanded liquidity and stable real interest rates, it could foster a favorable market environment for the cryptocurrency.