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

Odaily Planet Daily News: Coinbase CEO Brian Armstrong responded to Chamath Palihapitiya's views on Bitcoin market changes on the X platform. Armstrong stated that among the two issues Chamath mentioned, the phenomenon of marginal liquidity shifting to prediction markets and stock markets for speculation may be temporary, while the trend of Bitcoin mining energy shifting to 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, Bitcoin's price primarily reflects people's concerns about inflation, and currently, there seems to be no sign of an end to the persistent fiscal deficits of governments around the world.