Synaptogenix to stockpile 'Bittensor' instead of Bitcoin... "Believes in the potential of decentralized AI"
Summary
- Synaptogenix announced that it has selected Bittensor (TAO) as its strategic reserve asset instead of Bitcoin.
- Synaptogenix stressed that it sees greater opportunities in the field of convergence between digital assets and AI.
- Synaptogenix mentioned that the value of Bittensor remains undervalued and that surging demand in the future could attract institutional investor interest.
Synaptogenix, a U.S. NASDAQ-listed biopharmaceutical company, has announced the reasons for selecting Bittensor (TAO), a decentralized AI machine learning protocol, as its strategic reserve asset instead of Bitcoin (BTC).
According to BeInCrypto's report on the 24th (local time), Synaptogenix previously announced on the 9th that it plans to begin strategic accumulation of Bittensor valued at $100 million using its cash holdings, among other resources.
A Synaptogenix spokesperson emphasized in an interview with the media, "Bitcoin has established itself as a leading asset class, and while Ethereum and Solana are focusing on decentralized finance and experiencing growth, Synaptogenix sees even greater opportunities in the convergence of digital assets and AI."
They further stated, "The market capitalization of AI companies exceeds $500 billion, but the value of Bittensor, a prominent decentralized AI token, is only $3 billion. Despite the recent growth of the decentralized AI industry, TAO remains undervalued. If demand for TAO surges in the future, institutional investor interest will continue to increase," they added.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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