Decentralized AI (deAI) Stands on the Threshold of Another Transformative Shift, May Surpass Bitcoin (BTC) in the Future: DCG CEO

Digital Currency Group CEO Barry Silbert recently highlighted that decentralized AI (artificial intelligence) is now at a level where Bitcoin (BTC) was 16 years ago.

Digital Currency Group (DCG) CEO Barry Silbert has drawn parallels between the current state of decentralized AI (artificial intelligence) and the early days of Bitcoin (BTC). In a recent letter to shareholders, Silbert expressed his belief that decentralized AI has the potential to be “bigger than Bitcoin.”

As per the letter, decentralized AI (deAI) now sits on the cusp of another pivotal shift, presenting DCG with a “once-in-a-generation opportunity to build something industry-defining and world-changing.” He went on to say that this moment could mark the beginning of the “next major era in crypto,” one that has the potential to outpace Bitcoin.

Silbert highlighted the vast opportunities and benefits unlocked by open-source AI, adding that the advent of deAI promises even greater advantages for the global economy and society.

The crypto conglomerate, which was valued at around $4.4 billion as of last year, defines deAI as the distributed ownership and governance of AI. By design, this feature renders AI transparent and accessible to all. It also leverages blockchain and crypto incentives to amplify security, reliability, permissionless access, data ownership scalability, and efficiency.

According to the letter, DCG has already allocated over $105 million to 19 deAI projects and aims to expand the program significantly this year. One of its major projects, which has garnered a lot of attention from the crypto community, is Bittensor (TAO).

DCG, Bittensor, and TAO Price Action

Last year, DCG announced its support for Bittensor through Yuma. The subsidiary focuses on driving development in Bittensor, an open network where anyone can create, train, and harness the leverage offered by AI.

Yuma provides capital infrastructure and technical resources for startups and enterprises that want to build on Bittensor. Grayscale, another DCG subsidiary, complements this with its investment products that offer investors exposure to TAO tokens.

The latest developments have seen TAO price rally by 14%, surging from a low of $344.01 to a high of $392.64 in the last 24 hours heading into Monday morning. As of 10:00 AM UTC, the token remained above the $387 line, reflecting an increase of over 7% in a day and 20% in a week. However, the crypto asset has exhibited downward price actions in the longer timeframes, dropping by more than 10% in a month and 26% in a year.

Along the way, trading volume increased by 35% as over $195.7 million TAO moved across wallet addresses. The market cap of the digital asset’s 8.21 million circulating supply, meanwhile, stands at $3.18 billion.