PakGazette – Renowned tech visionary Balaji Srinivasan, former CTO of Coinbase (NASDAQ 🙂 and CEO of Andreessen Horowitz, shows two charts to showcase the skyrocketing opportunities of Big Language Models (LLM) and AI ETFs. Both They are in their “vertical” growth phases, he says.
Bitcoin and AI Go Vertical: Two Charts by Balaji Srinivasan
Bitcoin (BTC), the largest cryptocurrency, is going vertical along with artificial intelligence (AI). This statement was made by Balaji Srinivasan, a legendary investor and entrepreneur on his X account with over 1 million followers.
To demonstrate the traction of Bitcoin (BTC) and AI, Srinivasan shared two charts. The first demonstrates the capabilities of OpenAI’s flagship models in solving various tasks. It is measured using the Abstraction and Reasoning Corpus for Artificial General Intelligence (ARC-AGI) benchmarks.
Yesterday, December 20, 2024, OpenAI’s long-awaited o3 model set a new record, reaching 87.5% on the ARC-AGI public dataset. As demonstrated by Balaji Srinivasan, this is a 10x more powerful result compared to GPT-4o, the most powerful of ChatGPT’s leading models today.
In turn, GPT-4o performs 500% better than GPT-3, the model that started the AI euphoria in 2023.
The second chart by Balaji Srinivasan shows the dynamics of the USD-denominated AUM of BlackRock’s iShares ETFs (NYSE 🙂 on gold and Bitcoin spot. Launched less than a year ago, BlackRock’s Bitcoin spot ETFs outperformed their predecessors based on gold by almost 73%.
Bitcoin (BTC) is growing faster than the internet: Opinion
As of press time, BlackRock’s Bitcoin spot ETFs total $57.8 billion in assets under management, while gold-based exchange-traded products total $33 billion.
Bitcoin spot ETFs in the US were approved on January 11, 2024. In total, they have accumulated $113 billion in assets under management across 21 products.
Commenting on Balaji Srinivasan’s estimates, tech veteran and former Phunware CEO Alan Knitowski noted that Bitcoin (BTC) could overtake the Internet in adoption momentum.
While Bitcoin (BTC) may already be growing faster than the Internet, its adoption is close to 1999 levels for Global Web, according to Knitowski’s chart.
