Crypto billionaire Barry Silbert is placing a big bet on artificial intelligence (AI) as the next major trend in the crypto world. He revealed his strategy in a recent interview.
A New Venture Focused on AI
Silbert announced a new company, Yuma, dedicated solely to Bittensor (TAO). Bittensor is a decentralized blockchain network designed to create a global AI marketplace. Silbert explained that after exploring the decentralized AI space, he saw Bittensor as the next big thing for crypto, following Bitcoin, Ethereum, NFTs, layer-2 solutions, and DeFi. He aims to replicate the success he had with Bitcoin by investing in, building upon, and promoting Bittensor. He’s even taken on the role of CEO of Yuma, while still leading Digital Currency Group (DCG).
Building the Bittensor Ecosystem
Bittensor uses “subnets,” independent sections for specific AI tasks. Yuma is developing tools to make creating these subnets easier. Silbert’s investment strategy also includes finding the equivalent of Coinbase, Bitgo, or Chainalysis within the Bittensor ecosystem. Essentially, he’s looking for the key infrastructure companies that will support the growth of Bittensor.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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