AI Agents Could Be Important 'Buyers' of Crypto, Says Palantir Co-Founder Joe Lonsdale

The growth of artificial intelligence (AI) in the economy could be a boon for cryptocurrency, according to Joe Lonsdale, co-founder of data analytics firm Palantir (PLTR).

AI agents – entities that use AI technology to perform specific tasks – would probably use crypto when conducting financial transactions, adding that bitcoin {BTC}, ether {ETH} or solana {SOL} would be the three choices, in an interview for CNBC’s Squawk Box on Monday.

“There’s one type of buyer that could be very important here: AI agents are going to start doing a lot of things in our economy,” he said. “For AI agents to coordinate with incentive systems, they’re probably going to use crypto.”

Following the success of mainstream AI tools like ChatGPT last year, there has been plenty of discussion about how artificial intelligence may intersect with crypto.

Lonsdale was opining on the drivers of bitcoin‘s price now that spot ETFs are finally trading in the U.S., adding that this largely hinges on the macro backdrop.

“Are we going to be in massive deficit in 2025-2026 and spending money willy-nilly? If so, what asset’s safe?” he posed. “If you have inflation come up again…that’s a story I’m hearing from a lot of my friends who know macro better than me. You could see crypto do very well.”

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2024-01-25 19:59