Strive Inc. CEO Predicts AI Will Increase Bitcoin’s Value

Shares of Strive Inc. (ASST) showed a modest rise in premarket trading on Wednesday, following comments from CEO Matt Cole, who asserted that advancements in artificial intelligence (AI) could lead to Bitcoin becoming the “most valuable scarce asset.”

Cole’s Perspective on AI and Bitcoin

Speaking on X, Cole stated that the advent of superintelligence would enhance the value of scarce assets rather than diminish it. He elaborated, “Abundance from Super Intelligence will create exponential value for scarce assets.” In a strategic move, he encouraged investors to “learn & use Super Intelligence & buy Bitcoin,” while advising them to disregard the fear, uncertainty, and doubt (FUD) disseminated by those who have been consistently inaccurate in their predictions.

This statement came in response to investor Jason Calacanis, who recently suggested that investors should divest from Bitcoin (BTC) to invest in AI technologies.

Stock Performance and Market Sentiment

Following Cole’s remarks, ASST stocks increased by over 0.9% in premarket trading. Retail sentiment regarding ASST shifted from a ‘bullish’ to a more ‘neutral’ stance on Stocktwits, with a notable rise in discussion activity over the previous day.

Response from Jason Calacanis

Cole’s statement included a video highlighting Jason Calacanis’ past bearish predictions about Bitcoin since 2015. Notably, Calacanis endorsed AI-centric cryptocurrencies earlier in the year, referring to Bittensor’s TAO as a “better Bitcoin.” He suggested that the potential for Bitcoin had concluded, stating, “I think the game of Bitcoin has ended.”

His historical skepticism has included comments made in May 2019, where he suggested Bitcoin could suffer a fate similar to that of MySpace or Yahoo, predicting it might reach $100,000 before plummeting to zero.

Support from Michael Saylor

Matt Cole was not the only executive to challenge Calacanis’s views. Michael Saylor, Executive Chairman of MicroStrategy (MSTR), countered Calacanis’ arguments by stating, “AI creates abundance. Bitcoin enforces scarcity.” Saylor highlighted that AI enhances humanity’s potential to create value, while Bitcoin serves as a means of preserving and transferring that value across time and space.

Current Stock and Holdings Overview

During premarket trading, MicroStrategy’s stock dipped by 0.2%. Market sentiment around MSTR has turned ‘extremely bearish,’ with discussion activity remaining within normal ranges. As of Wednesday, MSTR holds the largest Bitcoin reserve, with an impressive 848,517 BTC, while Strive Inc. possesses 43,000 BTC.