Cryptocurrencies are a high-risk investment. Now Sam Altman, the founder and inventor of the AI bot ChatGPT, has explained why you should not invest in Bitcoins right now.
Sam Altman, the CEO and inventor of ChatGPT developer OpenAI, warns that the US government is waging a “war” against cryptocurrencies and wants to “control” Bitcoin. For this reason, one should be cautious about whether to really invest in this currency. Given the currently highly fluctuating Bitcoin price, such an investment is also not advisable.
The US government is allegedly waging a “war” against cryptocurrencies
In a podcast with Joe Rogan, he explains that he is concerned about how the US government would handle Bitcoin and other cryptocurrencies. He states (via forbes.com):
I am disappointed with what the US government has done lately, but the war against crypto, which I think we should not give up, we will [control Bitcoin and crypto], makes me quite sad about the country. I am very concerned about how far the surveillance state could go here.
Furthermore, the Bitcoin price is significantly lower compared to July 2023, its last peak, and many speculate that the price will continue to drop in the coming months. This is mainly due to the US government and potential regulations.
Is a digital central bank currency coming?
What is behind it? The US government and several agencies have discussed whether to create a digital dollar central bank currency. This could allow for better control over digital currencies, critics believe.
Many fear that governments can control what people can buy or do with their digital money. This is mainly about the fear of financial and monetary censorship, which has been a major topic since the Covid pandemic.
And initial efforts in the US government have been ongoing for some time to restrict digital currencies. At least users accuse the government of deliberately denying Bitcoin, cryptocurrencies, and crypto companies access to the traditional financial system.
Recently, Alexander Grieve, head of government affairs at the investment firm Paradigm, which specializes in Bitcoin and cryptocurrencies, warned that the White House is rumored to want to issue a regulation to limit the computing power used for AI. Such a regulation would have serious implications for Bitcoin and all other cryptocurrencies.
More about artificial intelligence: Sam Altman deals a lot with artificial intelligence. In a recent interview, he explained which jobs AI systems like ChatGPT can never replace:
The inventor of AI ChatGPT reveals which 34 jobs AI can never replace
