Coinbase CEO: AI may divert Bitcoin mining energy long-term, but BTC price is still driven by inflation expectations

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

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