BitMEX Co-Founder Bullish on Decentralized Data Storage Altcoin for AI Infrastructure
Arthur Hayes, co-founder of BitMEX, believes that the demand for censorship-resistant artificial intelligence (AI) infrastructure will increase, leading to the growth of a decentralized data storage crypto project. In a recent blog post, Hayes explains that AI technology requires decentralization for compute power and cloud storage.
Hayes specifically mentions Filecoin (FIL), a decentralized file storage network, as a crucial asset for the growing AI economy. He suggests that if FIL’s price-to-capacity ratio rises, it could potentially appreciate by around 1,730% from its current level. The price-to-capacity ratio is calculated by dividing the asset’s price by its storage capacity.
FIL is currently valued at $3.24, down 98.6% from its all-time high in April 2021. The price-to-capacity ratio of Filecoin has also fallen from $19.45 per exbibyte (EiB) to $0.27 per EiB.
Bullish Thesis on Filecoin and Fiat Liquidity Boom
Hayes bases his bullish thesis on Filecoin on the expectation that central banks will soon ease monetary policy, leading to a “fiat liquidity boom.” He predicts that AI is entering a period of significant adoption growth and anticipates massive investments from various entities related to AI.
Hot Take: Decentralized Data Storage Altcoin Poised for Explosive Growth in AI Economy
BitMEX co-founder Arthur Hayes is optimistic about the potential of a decentralized data storage altcoin in the rapidly expanding artificial intelligence (AI) industry. Hayes highlights the need for decentralization in AI technology, particularly in terms of compute power and cloud storage. He specifically mentions Filecoin as a crucial asset for the burgeoning AI economy.
If the price-to-capacity ratio of Filecoin rises, Hayes believes it could experience a staggering increase of approximately 1,730% from its current level. This optimism is further fueled by the expectation of central banks easing monetary policy, leading to a “fiat liquidity boom” that will drive investments in AI-related projects. Despite its current decline, Filecoin holds significant potential for exponential growth in the AI sector.
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