Coinbase CEO: AI Could Long-Term Divert Bitcoin Mining Energy, but BTC Price Core Still Driven by Inflation Expectations

Odaily Odaily reports that Coinbase CEO Brian Armstrong responded to Chamath Palihapitiya's views on changes in the Bitcoin market on the X platform. Armstrong stated that of the two issues Chamath mentioned, the shift of marginal liquidity to prediction markets and stock markets for speculation may only be temporary, while the trend of Bitcoin mining energy moving towards AI computing demand could have a more long-term impact.

Armstrong also pointed out that the computing power or energy input for Bitcoin mining does not determine Bitcoin's price (if miners exit, the network difficulty will automatically adjust to maintain the same block production rate). In the long run, the price of Bitcoin primarily reflects concerns about inflation, and currently, there seems to be no sign of an end to the persistent fiscal deficits of governments around the world.