Crypto Pioneer Warns AI Risks Trigger Shift Back to Bitcoin

shift back to Bitcoin — Hut 8 co-founder Marc van der Chijs is shifting investment profits from artificial intelligence back into bitcoin, warning that runaway AI development poses systemic risks to banking and infrastructure.

Van der Chijs, who had previously sold much of his bitcoin to invest in AI, said competition among companies and nations has accelerated development beyond human control. He expressed growing concern about the technology, stating he has “become more of a doomer” recently.

He predicted AI and robotics could eventually perform 90% to 95% of existing jobs, drastically reducing costs and forcing governments to seek new revenue sources like taxes on robots or AI usage.

Despite favoring AI data centers over bitcoin mining for investment, van der Chijs still considers bitcoin the best lifelong asset to hold. His move reflects a hedging strategy against the potential shocks he foresees from uncontrolled artificial intelligence.