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Earn Your Leisure

Bitcoin's Future Will it Reach 100k in 2024

Jan 21, 2024
The hosts discuss the overhyped AI sector in 2023, the potential bubble within the sector, and the future of Bitcoin, including its chances of reaching $100,000 and the impact of ETF approval. They also speculate on the influence of a Bitcoin ETF on the price, BlackRock's involvement, and the safety of cryptocurrency platforms.
08:17

Podcast summary created with Snipd AI

Quick takeaways

  • The AI sector, particularly large language models, is overhyped and will experience a correction in 2024, as companies need to innovate beyond LLMs for continued success.
  • Bitcoin's price reaching $100,000 in 2021 is seen as unlikely, with a more feasible push towards $65,000, but the pending approval of Bitcoin ETFs is anticipated to drive its growth and could lead to reallocation of investments from traditional assets to Bitcoin ETFs.

Deep dives

AI Sector Correction in 2024

The podcast episode suggests that the AI sector, particularly focusing on large language models (LLMs), is overhyped and will experience a correction in 2024. The speaker notes that many companies are claiming to be AI-powered to attract funding, but there needs to be new innovation beyond LLMs. While established players like OpenAI will continue to dominate, connecting a company's success to LLMs to boost earnings will not be as effective in 2024. The speaker also expresses surprise that Apple has not capitalized on large language models for Siri or acquired a company in that space.

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