BitMEX co-founder Arthur Hayes says Bitcoin (CRYPTO: BTC) 50% drawdown reflects growing fears of an AI-driven credit shock rather than weakness in the crypto market itself.
Bitcoin’s AI-Triggered Credit Destruction
Hayes argued in an interview with Cointelegraph that the decline reflects a broader macro risk tied to artificial intelligence and global geopolitics.
Markets may be underpricing geopolitical risk from the escalating tensions between the U.S. and Iran, although his central thesis focuses on what he calls AI-triggered credit destruction.
Hayes’ argument: widespread AI adoption could …