Hut 8 Co-Founder Reassesses AI Exposure, Shifts Profits Back into Bitcoin
Hut 8 co-founder Marc van der Chijs is shifting some of his profits back into Bitcoin amid growing concerns over artificial intelligence's rapid development and potential risks to human control. Van der Chijs, who previously rotated out of Bitcoin into AI-related investments, now sees increasing systemic risk in the sector.
The Hut 8 co-founder warns that accelerating AI development could threaten international financial systems and critical infrastructure, echoing concerns raised by prominent AI leaders about advanced systems. He believes that competition among companies and countries is driving this acceleration, making it harder to maintain human oversight.
Van der Chijs predicts that AI and robotics may automate up to 95% of jobs, forcing governments to consider taxes on robotic labor or AI usage to offset lost revenue. This concern has led him to rebalance his portfolio, favoring AI data centers over Bitcoin mining while continuing to view Bitcoin as a strong long-term asset.