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Bitcoin and AI: what worked in 2023 still works in 2024

Bitcoin larger than any megacap stock within two years

Ecoinometrics

Apr 1

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In 2023 it was all about AI. Everyone from the tech giant to your local dog cleaner added some AI initiative to the business in order to look good. If that reminds you of the days when mentioning blockchain in your quarterly report would grant you a boost then you are not the only one.

Now clearly this AI wave is no joke.

We finally have useful AI systems. They can act at least as competent research assistants provided you guide them properly. This is not perfect obviously, but already there is no drawback in integrating AI as part of your workflow.

With all the AI hype last year crypto has not really been in the spotlight.

And yet when we look at the performance at then end of the month, Bitcoin and AI aren’t that far away from each other.

The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.

We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things.

We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less.

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P.S. we have just released a new dashboard on the Bitcoin miners. The purpose of this dashboard is to track if the Bitcoin miners stocks are over priced or under priced relative to Bitcoin. Paid subscribers can check it out here.

Bitcoin and AI: what worked in 2023 still works in 2024

The takeaway

Digital assets and AI are the future. So there is no reason not to invest in both. But if you really have to choose there is more upside in digital assets.

Already in BTC, ETH and NVIDIA are growing at similar rates in 2024. But while NVIDIA is getting really hot, Bitcoin and Ethereum have room to grow faster based on historical growth rates.

Moreover digital assets are a counterbalance to AI in some ways. Where generative AI enables an infinite amount of digital creations only digital assets can guarantee scarcity and provenance. That could prove invaluable in the near future.

New year, same winners...

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