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Palantir Co-Founder Says One Type of Buyer Could Be Very Important for Bitcoin, Ethereum and Solana

January 30, 2024

The co-founder of software giant Palantir Technologies thinks one type of buyer could introduce a new wave of demand for the crypto markets going forward.

Joe Lonsdale says in a new interview with CNBC that artificial intelligence (AI) agents could rely on crypto as it expands across society.

“There’s not going to be a whole new financial story driving [crypto] from the side of buyers necessarily, although there’s one type of buyer that could be very important here. AI agents are going to start doing a lot of things in our economy, and for AI agents to coordinate with incentive systems, they’re probably going to use crypto.”

Lonsdale, who also works as a founding partner at the venture capital fund 8VC, says those AI agents will probably use Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), and he thinks the price of those three crypto assets are correlated.

The Palantir co-founder also says crypto prices could soar if the US government continues spending money at prolific rates and inflation kicks back up in 2025 or 2026.

David Marcus, the former president of PayPal and ex-Facebook vice-president, echoes Lonsdale’s insight on BTC and AI. Marcus says he sees Bitcoin becoming the currency of choice for AI agents looking to trade information.

“There’s a very good chance Bitcoin sats will become the 24/7 default neutral, native value exchange asset for AI agents. Agents will net settle in real time on Lightning between them. When fiat payouts need to happen, sats will get converted for a tiny fee.” 

Bitcoin is trading at $43,571 at time of writing. The top-ranked crypto asset is up about 3% in the past 24 hours.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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