Not long after Berkshire Hathaway (NYSE: BRK.A) CEO Warren Buffett made controversial comments about the potential dangers of artificial intelligence (AI) technology, including its role in illicit financial activities, one AI cryptocurrency has started to record massive gains.
Specifically, Worldcoin (WLD), the crypto asset and digital identification platform developed by Tools for Humanity, a company co-founded by OpenAI CEO Sam Altman, has seen its market capitalization grow 43% so far in May, according to the data shared by blockchain analytics firm Santiment on May 6.
Indeed, the token’s rapid ascension followed a bottoming out at the end of April and seemingly received a boost after the renowned investor made his controversial comments regarding AI technology, becoming one of the top trending tokens in the crypto industry.
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Warren Buffett’s views of artificial intelligence
As it happens, at his annual shareholder meeting in Omaha, Nebraska, on May 4, Buffett shared his fears about the potential impact of AI, comparing it with nuclear weapons and stating that an AI-backed tool recently replicated his image and voice so convincingly that they could have fooled his own family.
“We let a genie out of the bottle when we developed nuclear weapons. (…) AI is somewhat similar – it’s part way out of the bottle. (…) If I was interested in investing in scamming, it’s going to be the growth industry of all time.”
That said, his company, Berkshire Hathaway, has started deploying AI to streamline parts of its business, and Greg Abel, Buffett’s expected successor who currently runs the organization’s non-insurance operations, acknowledged it might offer some potential:
“At times it displaces the labor, but then hopefully, there’s other opportunities.”
Worldcoin price analysis
Elsewhere, Worldcoin was at press time changing hands at the price of $6.21, witnessing a modest decline of 1.77% in the last 24 hours, but climbing 36.85% in the last week alone, as it recorded a not-so-impressive month as a whole, during which it declined 12.79%.
However, during the month of May so far, WLD has managed to grow its market cap by over 43%, climbing from $873.15 million on May 1 to surpass the $1 billion mark on May 3 and proceeding to the current $1.25 billion, as per data retrieved by Finbold on May 7.
Ultimately, the interest in the crypto asset and its use cases could push its price even further, particularly if the company manages to establish partnerships with major technology and finance companies, including OpenAI and PayPal (NYSE: PYPL). However, doing one’s own research is critical before investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
