Former PayPal President Lauds Bitcoin, Calls It Future Native Currency Of AI

In a riveting turn of events, despite Bitcoin’s recent turbulent price action, former PayPal president David Marcus took a bullish stance on the world’s largest crypto by global market cap. Speaking with Michael Saylor at the Bitcoin for Corporations event 2024, Marcus proclaimed Bitcoin to be the future native currency of AI (artificial intelligence), sending tongues wagging across the crypto space.

Bitcoin for Corporations, a pivotal event where corporate leaders, financial executives, and technology innovators converge, serves as a platform to discuss Bitcoin’s potential in the corporate world. The former PayPal president’s remarks on Bitcoin, coinciding with the rapid ascent of AI, have sparked a wave of optimism surrounding the future of the world’s first cryptocurrency.

‘The Future Native Currency Of AI’: What’s The Scoop?

In his statements, the former President of PayPal primarily delved into the highly dynamic landscape of digital currencies, spotlighting the vital necessity for a universally accepted form of digital value. Concerning this, Marcus drew attention to Bitcoin’s inherent characteristics, hinting at the crypto to be the frontrunner in the case of ‘neutrality’ within the cryptocurrency realm.

He added, “so if you make Bitcoin super efficient, super fast real-time at the speed of AI transactions, that’s basically going to be the native currency of AI.”

Drawing parallels to the evolution of AI translation services, mainly Google’s, Marcus drew attention to AI’s capability to build its own neutral language to function. Concerning this, an intriguing question raised by the former president took crypto market participants by storm: “So what is it going to be for value between AI agents?” 

To this, Marcus replied, “Definitely, Bitcoin because that’s the neutral language of value on the internet, native.” This ignited a frenzy among crypto traders and investors globally, underscoring Bitcoin’s potential to grow further and evolve in tandem with emerging technologies. However, the token traded in the red recently, stirring speculations over its short-term potential to offer traders gains.

Also Read: Peter Schiff Highlights Bearish Pattern Formation in BTC Price, Predicts Downside Target

Bitcoin Price Tumbles

As of writing, Bitcoin’s price traded at $57,748, with a 1.13% decrease in value over the past day. The token witnesses quite the flux as it entered a reaccumulation phase post-halving, consisting of corrections and consolidations.

Nonetheless, the former President of PayPal’s remarks have caused a buzz across the global crypto community, with the token further reflecting optimism for its future. It’s also worth noting that a parabolic uptrend for the Bitcoin also potentially looms over the crypto horizon.

Also Read: Crypto Prices Today May 2: Bitcoin At $57K, Ethereum Continues Decline, Solana Recovers