The chief futurist at Ark Invest, Brett Winton, believes that in the era of artificial intelligence crypto assets may realise growth potential. The Block reports as The Block.
In his words, advances in AI are accelerating and contributing to technological convergence across many sectors of the economy.
“Public blockchains, cryptocurrencies and crypto assets, which are currently going through a challenging period, will become even more differentiated due to their scarcity in an era of abundance,” said Winton.
He added that today there are more opportunities for expanding and realising value in the venture and public market spaces than two years ago.
Founder and chief executive of Ark Invest, Cathie Wood, said that many forthcoming technological breakthroughs will be “deflationary,” though positive.
“This will contribute to a forecast of lower inflation and spur a boom in products and services tied to innovations,” she said.
According to Wood, inflation is a near-term restraining factor for implementing many innovative strategies. She added that the firm’s stance on Fed policy was the most important part of her 2023 forecast.
“We believe there are a wide range of signals pointing to inflation easing. This points to an imminent shift in Fed policy,” she said.
Wood expects this could occur in the first half of 2023.
On January 12, Bitcoin prices rose above the $18 000 level for the first time since mid-December 2022 on the back of U.S. inflation data.
That same month the prices of AI tokens surged amid the popularity of ChatGPT.
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