Bitcoin Set to Become AI's Currency of Choice, Says Anthony Pompliano

Anthony Pompliano, founder of Pomp Investments, believes Bitcoin will be crucial for securing wealth generated by artificial intelligence (AI).

He shared this view in a CNBC interview on June 24.

Pompliano sees AI and Bitcoin as complementary technologies over the next decade. He dismisses the idea that AI has supplanted cryptocurrencies as the primary tech trend.

AI is expected to boost global GDP through increased productivity. Pompliano argues that Bitcoin will serve as a protective measure for this new wealth.

"An easy way to see the intersection is what money are these machines going to use?" Pompliano stated. He urges a long-term perspective on this technological convergence, rather than seeing it from old school perspective.

Bitcoin recently hit a seven-week low of $59,086 on June 23. Several factors contribute to negative sentiment. For instance, the upcoming sale of $8.5 billion worth of Bitcoin by Mt. Gox to creditors. Spot Bitcoin ETFs have seen net outflows exceeding $1 billion in the past ten trading days. Bitcoin miners have also been selling off significant amounts, that also counts.

The Crypto Fear and Greed Index now rates market sentiment as "Neutral" at 51 out of 100. This is down from last week's "Greed" rating of 71.