Svmuu News: Brian Armstrong, CEO of Coinbase, responded on X to Chamath Palihapitiya’s views on market changes in the Bitcoin.Armstrong stated that of the two issues Chamath raised, the shift of marginal liquidity toward speculative trading in prediction markets and stock markets may be only temporary, while the trend of mining energy shifting from Bitcoin to AI computing demands may have longer-term implications.
Armstrong also pointed out that the computing power or energy input from Bitcoin mining does not determine the price of Bitcoin (if miners exit, the network difficulty automatically adjusts to maintain the same block production rate). In the long term, the price of Bitcoin primarily reflects concerns about inflation, and the current situation of persistent fiscal deficits among governments around the world shows no signs of ending.