U.S. Support for AI Could Boost Dollar Liquidity and Bitcoin

Arthur Hayes, co-founder of BitMEX, believes that a downturn in artificial intelligence spending could benefit Bitcoin if credit losses prompt U.S. government support.

In his essay 'Safety First', Hayes argued that weaker AI demand could strain infrastructure financing and trigger measures to increase dollar liquidity.

The U.S. government might respond by becoming a 'compute buyer of last resort,' supporting capacity through government spending or agreements to purchase computing services, Hayes said.