Barry Silbert posits that Bittensor (TAO) might surpass Bitcoin (BTC) as a store of value due to its significant growth and AI integration. He suggests reallocating Bitcoin’s security funds to address global issues, and highlights Bittensor’s superior economic model and rapid market ascent. TAO has recently seen a price increase of 32.1%, indicating rising investor interest and a doubling of subnet market capitalisation.
Barry Silbert, CEO of Digital Currency Group, has expressed confidence that Bittensor (TAO) could surpass Bitcoin (BTC) as a global store of value. His assertion arises as Bittensor experiences significant growth, with an increasing market capitalisation of its ecosystem and rising TAO token prices.
During an interview with Raoul Pal, Silbert noted the increasing impact of artificial intelligence (AI) in the cryptocurrency landscape. He views Bittensor as a key player in this evolution, potentially marking the next significant investment theme following Bitcoin, Ethereum, and NFTs.
Silbert compared Bittensor to early Bitcoin, suggesting its ambitions extend beyond mere financial sovereignty. He optimistically predicts that Bittensor could emerge as a superior store of value globally, indicating that funds currently dedicated to securing the Bitcoin network might be better allocated to incentivise a global workforce solving critical issues.
He highlighted Bittensor’s economic model similarity to Bitcoin, emphasising its decentralisation and halving mechanisms. This attributes Bittensor with a strong position as an influential network aimed at addressing pressing global challenges.
Moreover, Silbert distinguished Bittensor from various other AI projects by stating it has reached “escape velocity,” implying it has gained rapid momentum and market significance. He noted that most cryptocurrencies lack purpose, deeming only a few worthy of investment akin to Bittensor.
Market data supports Silbert’s enthusiasm for Bittensor, with the TAO token performing well against market fluctuations. Recently, TAO saw a 32.1% increase, currently trading at $328, particularly amidst ongoing volatility.
The growing popularity of TAO is underscored by its trending status on CoinGecko and a peak search volume of 100 on Google Trends, demonstrating heightened interest from investors. Moreover, the Bittensor ecosystem has also made notable advancements, with its subnet token market capitalisation more than doubling in April, from $181 million to $481 million, alongside an uptick in active subnets.
