2024

Bitcoin

BlackRock

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Renowned tech visionary Balaji Srinivasan, former CTO of Coinbase and GP of Andreessen Horowitz, shows two charts to display the rocketing opportunities of AI large language models (LLMs) and Bitcoin ETFs. Both are in their "vertical" growth phases, he says.
<h2 id="bitcoin-ai-going-vertical-two-charts-by-balaji-srinivasan">Bitcoin, AI going vertical: Two charts by Balaji Srinivasan</h2>
Bitcoin (BTC), the largest cryptocurrency, is going vertical together with artificial intelligence (AI). Such statement was made by Balaji Srinivasan, a legendary investor and entrepreneur on his X account with over 1 million followers.
<blockquote class="twitter-tweet">
 AI and Bitcoin are going vertical. <a href="https://t.co/IGUMILvban">pic.twitter.com/IGUMILvban</a>— Balaji (@balajis) <a href="https://twitter.com/balajis/status/1870309510830809191?ref_src=twsrc%5Etfw">December 21, 2024</a>
</blockquote> 
To demonstrate the traction of Bitcoin (BTC) and AI, Srinivasan shared two charts. The first one demonstrates the opportunities of OpenAI's flagship models to solve various tasks. It is measured by Abstraction and Reasoning Corpus for Artificial General Intelligence (ARC-AGI) benchmarks.
Yesterday, Dec. 20, 2024, OpenAI's much-anticipated o3 model set a new record, hitting 87.5% on ARC-AGI public data set. As demonstrated by Balaji Srinivasan, this is a 10x more powerful result compared to GPT-4o, the strongest of ChatGPT's mainstream models today.
In turn, GPT-4o performs 500% better than GPT-3, the model that kickstarted the AI euphoria in 2023.
The second chart by Balaji Srinivasan showcases the dynamics of USD-denominated AUM of BlackRock iShares ETFs on Gold and spot Bitcoin. Launched less than one year ago, BlackRock's Bitcoin spot ETFs exceeded their Gold-based predecessors by almost 73%.
<h2 id="bitcoin-btc-grows-faster-than-internet-opinion">Bitcoin (BTC) grows faster than internet: Opinion</h2>
As of press time, Bitcoin spot ETFs by BlackRock total $57.8 billion in AUM, while Gold-based exchange-traded products are sitting at $33 billion.
Bitcoin spot ETFs in the U.S. were approved Jan. 11, 2024. In total, they amassed $113 billion in AUM across 21 products.
Commenting on Balaji Srinivasan's estimations, tech veteran and former Phunware CEO Alan Knitowski noticed that Bitcoin (BTC) might surpass the internet in adoption impetus.
<blockquote class="twitter-tweet">
 This is absolutely fantastic. I am monitoring the Bitcoin growth compared to the Internet user growth from a few waves of tech ago. Clearly Bitcoin is growing faster already than the Internet. It’s amazing. It’s also incredible that there are less than 1 million BTC addresses… <a href="https://t.co/UVup9crg7O">pic.twitter.com/UVup9crg7O</a>— Alan Knitowski ∞/21M (@alanknit) <a href="https://twitter.com/alanknit/status/1870311790782951425?ref_src=twsrc%5Etfw">December 21, 2024</a>
</blockquote> 
While Bitcoin (BTC) might already be growing faster than the internet, its adoption is near 1999 levels for Global Web, Knitowski's chart says. <a href="https://u.today/balaji-srinivasan-on-bitcoin-ai-going-vertical">Read original article on U.Today</a>

Balaji Srinivasan on Bitcoin, AI: 'Going Vertical'

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