Arthur Hayes, the crypto-exchange founder who now runs his own investment company, Maelstrom, reportedly said at a conference in Singapore that the trillions of dollars being spent on AI data centers will leave the industry overbuilt, as reported by CNBC.
The result will be excess capacity of computation, a market crash and ultimately a bailout that will strengthen the case for buying Bitcoin, Hayes said.
The DeAI angle: Hayes has made similar comments before, and his new venture, Flop, aims to build a payments network letting AI agents convert tokens directly into computation power. What's noteworthy about the CNBC article is that the DeAI-oriented thesis is now getting spread in the mainstream financial press. The Hayes remarks also garnered coverage from Yahoo Finance and Quartz.