Hut 8 co-founder Marc van der Chijs said in an interview with CoinDesk that intense competition among companies and nation-states is accelerating artificial intelligence development beyond human control, creating what he described as systemic risks for the financial system and critical infrastructure. He said the world has already "lost control" and argued that systemic disruption or catastrophic failure is almost unavoidable before meaningful international guardrails are put in place.
Van der Chijs also said AI and robotics could eventually replace 90% to 95% of existing jobs while sharply reducing the cost of goods and services, forcing governments to look for new sources of revenue, including taxes on robots or AI usage. In finance, he said AI could expose weaknesses in legacy banking software and undermine confidence in institutions that rely on interconnected systems. In crypto, he said businesses built around Bitcoin, including exchanges, are more vulnerable than the Bitcoin network itself.
He added that he had previously sold a large amount of Bitcoin to invest in AI and believes capital rotating into AI helped keep Bitcoin from reaching the $200,000 to $250,000 level he had expected. He is now putting part of his AI profits back into crypto through exchange-traded funds, while still calling Bitcoin the only asset worth holding for life.
Hut 8 co-founder Marc van der Chijs said in an interview with CoinDesk that fierce competition between corporations and nation-states is speeding up artificial intelligence development beyond human control, raising systemic risks for the financial system and critical infrastructure.
"We have already lost control," he said. He added that systemic disruption or catastrophic failure is almost inevitable before real international guardrails are established.
AI could expose weak points in finance and infrastructure
Van der Chijs said AI may uncover vulnerabilities in traditional banking software and threaten confidence in institutions that depend on interconnected systems. In crypto, he said businesses built around Bitcoin, including exchanges, are more exposed than the underlying Bitcoin network itself.
He sees large-scale job displacement and new forms of taxation
He predicted that AI and robotics could eventually replace 90% to 95% of existing jobs and drive down the cost of goods and services. Governments, he said, would then need to find new revenue sources, including taxes on robots or the use of AI.
Why he thinks AI capital flows held Bitcoin back
Van der Chijs said he had sold a large amount of Bitcoin and shifted that capital into AI investments. In his view, investors moving money into AI was one reason Bitcoin failed to reach the previously expected $200,000 to $250,000 range.
He said he is now channeling part of his AI profits back into crypto through exchange-traded funds. Even so, he still views Bitcoin as the only asset worth holding for a lifetime and said Hut 8's move into AI data centers was "the best decision ever."
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
