March 3, 2023 1:57 PM | 2 min read
It’s no surprise that ChatGPT has been a big topic lately. The technology it has brought about has revolutionized many aspects of the world, such as business, finance and education. And artificial intelligence is at the center of it all.
Elon Musk is no stranger when it comes to AI. His previous attitude towards the tech was one of caution and concern. But now, he has been seen to be quite open to the idea, if his latest tweet is anything to go by.
On Friday, Musk posted a satirical tweet which seemed to suggest that his interest in crypto had been replaced by a newfound obsession with AI.
“I used to be in crypto, but now I got interested in AI”
— Elon Musk (@elonmusk) March 3, 2023
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Naturally, the market reacted to this news, with Dogecoin (CRYPTO: DOGE) and Bitcoin (CRYPTO: BTC) both seeing a drop of around 5 percent.
So the question is, is Elon’s interest in AI really that strong? Is he truly shifting his focus to the technology?
Recently, tech mogul Elon Musk stirred the crypto-verse with a tweet that hinted at an upcoming shift in focus from cryptocurrencies and NFTs to artificial intelligence. Immediately after the tweet, the price of Bitcoin dropped almost 0.7%. In general, it’s expected that when the tech visionary makes comments about tokens like Shiba Inu (CRYPTO: SHIB) or other doggies, there will be interesting volatility to trade.
[Benzinga’s Take:] But what does this tweet really imply? Is Musk really tiring of crypto? Of course not — how could he be? It appears to reflect a wider trend in the technology industry, with a shift in focus toward artificial intelligence and away from previously popular trends like NFTs and the Metaverse. Although it might seem like he’s lost interest in cryptocurrency, it’s essential to note that he’s been a longtime supporter of the potential of blockchain technology to revolutionize finance and other industries.
It’s possible that NFTs and metaverse tokens prices will continue to drop as the technology industry moves toward artificial intelligence. Investors may need to look elsewhere to find new opportunities as the enthusiasm surrounding these technologies is waning.
