August 31: Bitcoin Falls Back Below $78K as AI and Bitcoin Mining Become the Same Infrastructure Story
itcoin is back below $78,000 after another failed attempt to establish $80K as support, while ETF inflows finally broke their winning streak and Kevin Warsh's Jackson Hole comments increased expectations for tighter monetary policy. Matt explains why Warsh's apparent commitment to returning inflation to 2% could mean higher rates and less liquidity, creating another potential headwind for Bitcoin.
The bigger story is the growing convergence between Bitcoin mining and AI infrastructure. Miners already control power, grid connections, land, cooling and data-center infrastructure that AI…
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