Barry Silbert, CEO of cryptocurrency conglomerate Digital Currency Group and an early advocate of Bitcoin (CRYPTO: BTC), advocated on Thursday for the inclusion of decentralized AI in portfolios through investments in Bittensor (CRYPTO: TAO).
Decentralized AI Exposure To Get Easier?
Silbert promoted the launch of the Total Market Fund by Yuma, a DCG subsidiary, that provides a single allocation for exposure to TAO and tokens tied to AI projects built on Bittensor. The fund is marketed as an institutional gateway to decentralized AI infrastructure, offering exposure beyond traditional equities and venture capital.
“AI is becoming a core portfolio allocation. But for most investors, it’s limited to a few, big players,” Silbert noted. “Bittensor offers access to a decentralized network of AI projects.”
What’s Bittensor Moat?
Bittensor is an open-source network that allows AI models to be shared, trained, and ranked by value. Participation and contribution are incentivized by handing out rewards in the form of the native cryptocurrency called TAO.
DCG has long been backing Bittensor’s expansion. The group made its maiden investment in Bittensor in 2021. In August, DCG’s asset management division, Grayscale, launched a new fund, Grayscale Bittensor Trust, that would expose investors to the price moves of TAO
Silbert himself has picked Bittensor as one of the top projects where the majority of cryptocurrency capital is expected to rotate into eventually.
Silbert Bullish On Privacy Narrative
Silbert has also championed financial privacy, positioning privacy-focused coins as the cryptocurrency industry’s next major investment opportunity.
His thesis is that 5-10% of Bitcoin market cap would eventually rotate into privacy coins, including Zcash (CRYPTO: ZEC).
Price Action: At the time of writing, TAO was exchanging hands at $213.40, down 3.48% over the last 24 hours, according to data from Benzinga Pro, valued at over $2.35 billion.
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