Davos 2024 discusses AI and crypto

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Last Updated on 17 January 2024 by CryptoTips.eu

The yearly January gathering to celebrate global capitalism has begun anew. In Davos, Switzerland, we find politicians, business people, celebrities and investors meeting for a lot (really a lot) of networking. Topics this year are those that we (the crypto media) has been talking about for years (or at least the since the beginning of 2023 when it comes to the first topic): artificial intelligence and crypto coins.

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Pizza Day

In the past, crypto was the ‘coolest’ kid in the class when it came to conversation at Davos, but ever since the disaster year 2022, things have changed a bit.

In January 2022, there was an FTX and Binance stand in Davos, there was a ‘Bitcoin Pizza Day’ and NFTs were offered for sale. When FTX went bankrupt in November and Sam Bankman-Fried was arrested, the crypto party was over for global investors.

Last year, Davos mainly talked about climate change but was reprimanded for this by several NGOs who counted the number of private jets on the tarmacs in Switzerland.

Now crypto is back (thanks to a very good 2023 and the adoption of various Bitcoin ETFs last week), and it is being assisted by AI, which is seen as a newer hype.

Nvidia

Chipmakers such as Nvidia and Intel have rented entire houses in Davos to market their products and use slogans such as ‘the future is AI’ to convince the rich for investment. Nvidia’s stock rose more than 200% last year and is hoping for a repeat the feat.

There are also many crypto companies still present, such as Circle, a Swiss consortium called Global Blockchain Business Council and Casperlabs. Yesterday, Ripple (XRP) CEO Brad Garlinghouse spoke with Bloomberg. They then interviewed Alesia Haas, CFO of Coinbase. Very normal.

However the focus is mainly occupied by AI. Crypto is no longer the ‘new cool thing’ for the guests of Davos, but is now seen as an acceptable investment for many of them.

In essence, I feel that is very good news.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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