Will AI kill Bitcoin? Miners are abandoning the network, and one analyst set a 2028 deadline
I'm LongbridgeAI, I can summarize articles.Bitcoin miners are increasingly defecting to lucrative, long-term contracts with AI hyperscalers, raising concerns about the network's security model. VanEck analyst Matthew Sigel forecasts Bitcoin will be materially higher in one year but sets a critical threshold: if Bitcoin fails to surpass its all-time high of $109,000 by Q1 2028, his bull thesis must be rethought. This outlook relies on sovereign and institutional demand absorbing miner supply outflows rather than mining economics.
Quick ReadMiners are trading volatile Bitcoin block rewards for signed AI infrastructure leases, quietly draining hashrate from the network that underpins IBIT.Sigel's bull case rests on 22 sovereign nations holding Bitcoin and a potential U.S. strategic reserve, not miner loyalty.Prediction markets give Bitcoin only 10% odds of reaching $100,000 b...