‘A Huge Step'—Coinbase CEO Issues ‘10x' AI Crypto Prediction As Bitcoin Price Targets $200,000
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The bitcoin price soared to almost $119,000 per bitcoin after Tesla billionaire Elon Musk confirmed a bitcoin bombshell, catapulting the crypto market toward $4 trillion.
Now, as U.S. president Donald Trump sees the bitcoin price and crypto going 'through the roof,' the chief executive of crypto exchange Coinbase has issued a shock '10x' artificial intelligence crypto prediction.
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Brian Armstrong, the chief executive of bitcoin and crypto exchange Coinbase, has predicted crypto ... More integration could "10x" artificial intelligence, potentially pushing the bitcoin price and crypto markets higher.
'I expect enhanced crypto functionality will be a catalyst for AI to achieve another 10x unlock,' Coinbase chief executive Brian Armstrong posted to X. 'Personally I'm most excited to see crypto wallets fully integrated into large language model (LLMs) one day. That will be a huge step towards a permissionless, digital economy.'
Coinbase, the U.S.-listed crypto exchange that recently topped its 2021 Covid-era market capitalization and is now worth around $100 billion, has partnered with artificial intelligence-powered search engine startup Perplexity AI to create a real-time crypto data service.
The two-stage partnership will first see Perplexity pull market data from Coinbase to power 'market analysis' in Perplexity's new Comet browser, effective immediately. The next step, date to be confirmed, will see responses to user queries linked to Coinbase market data.
Since crypto passed the hype torch to generative AI at the launch of OpenAI's ChatGTP in November 2022, crypto developers have been scrambling to hitch their rickety wagon to the AI rocket ship—searching for the holy grail that would see AI companies somehow adopt blockchain technology.
Coinbase's partnership with Perplexity follows a deal between crypto-powered prediction platform Polymarket and Elon Musk's xAI last month.
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The bitcoin price has rocketed higher, topping $118,000 per bitcoin and unleashing a wave of bullish ... More bitcoin price predictions.
Meanwhile, Coinbase stock rose this week despite a rare double downgrade from analysts with H.C. Wainwright, going from a "buy" recommendation to a "sell," and warning of disappointing second-quarter results.
'While we continue to view Coinbase as a 'Best of Breed' crypto exchange and remain positive on the sector, we believe valuation has outstripped near-term fundamentals following the stock's ~150% rally since its April lows, which we view as overdone,' analyst Mike Colonnese wrote in a note to clients seen by Coindesk.
Despite some fears the latest bitcoin price and crypto market might be overdone, bullish bitcoin price predictions are still rolling in.
"We expect bitcoin to top $200,000 by the end of year, I think we're going substantially higher from here," Bitwise chief investment officer Matt Hougan told Yahoo Finance, pointing to the friendly bitcoin and crypto policies coming out of the Trump administration and the huge bitcoin buying being done by bitcoin treasury companies and bitcoin exchange-traded funds (ETFs).
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