Hut 8 co-founder warns that AI may trigger systemic financial and infrastructure shocks

According to CoinDesk, Hut 8 co-founder Marc van der Chijs warned in an interview with CoinDesk that the fierce competition between enterprises and nations is accelerating the development of artificial intelligence, with its speed exceeding human control, potentially posing systemic risks to the financial system and critical infrastructure. He stated, "We have already lost control," and expressed concern that systemic disruption or catastrophic failure is almost inevitable before real international safeguards are established.

Van der Chijs predicts that AI and robotics could ultimately replace 90% to 95% of existing jobs and significantly lower the costs of goods and services. At that point, governments will need to find new sources of revenue, such as taxing the use of robots or AI. He also believes that AI could expose vulnerabilities in traditional banking software, threatening the confidence of institutions that rely on interconnected systems; in the crypto space, businesses built around Bitcoin, such as exchanges, are more susceptible to impact than the underlying network itself.

Van der Chijs previously sold a large amount of Bitcoin to shift towards AI investments and believes that the capital shift by investors towards AI has prevented Bitcoin from reaching the previously expected levels of $200,000 to $250,000. He is now reinvesting some of the AI profits back into crypto assets through exchange-traded funds. He still views Bitcoin as the only asset worth holding in his lifetime and claims that Hut 8's shift to AI data centers is "the best decision ever."