Bitcoin price will hit a new record as AI destroys jobs, Arthur Hayes says

Artificial intelligence will take white-collar workers’ jobs and threaten to crash the US economy, which Arthur Hayes says will pave the way for Bitcoin to reach a new record high. In his latest missive, the Maelstrom chief investment officer argues that large language models from OpenAI and Anthropic will push office workers out of their jobs and trigger a financial downturn, as those workers fail to repay their loans. Eventually, that will force the Federal Reserve to step in and print money to avoid ...