Peter Schiff: AI poses a threat to Bitcoin, not a positive development

Odaily News: Gold supporter and economist Peter Schiff stated that AI poses a threat to Bitcoin rather than being a positive development, and refuted the view that ties AI to Bitcoin's growth prospects.

Peter Schiff said that AI directly competes with Bitcoin for speculative capital, electricity, and data center resources. Additionally, he believes that AI may in the future discover vulnerabilities in Bitcoin's code, cryptographic algorithms, wallets, or network that have not yet been found by humans, thereby posing a potential threat to Bitcoin's security and scarcity.