ChatGPT recommends investors to invest in gold, reliable stocks and bonds rather than in cryptocurrency. Moreover, the artificial intelligence suggests that 10% of savings be stored as cash. How reasonable is this investment advice?
Tips from neurointelligence
ChatGPT was asked to determine the best investment portfolio in the current circumstances that would allow investors to maintain and multiply their capital amidst the recession. The artificial intelligence opted for more conservative financial assets against cryptocurrencies and Bitcoin, in particular. It proposed investing about 40% in bonds, 30% in secure stocks and keeping 10% as cash. ChatGPT did not even mention digital assets.
When asked specifically to choose between gold and Bitcoin, AI recommended the precious metal, considering Bitcoin a speculative asset that is not secured by any financial values or state guarantees. After noting a clear bullish trend since the beginning of the year, market participants were extremely surprised by the advice. Since January, Bitcoin has grown more than 25% in value, breaking the psychological threshold of $30,000.
Different expectations
Earlier forecasts concerning Bitcoin’s prospects this year were incredibly positive. In particular, representatives of major cryptocurrency exchanges even discussed a scenario in which the market value of the main cryptocurrency would reach an unprecedented rate of $1 million in 2023. GPT also predicted that in the long-term (by 2030), Bitcoin would trade at almost $300 million.
At the same time, substantially more conservative forecasts have been made on the market when it comes to Bitcoin’s further prospects. For example, prominent cryptoskeptic Peter Schiff suggests that the cost of the cryptocurrency will drop to $5,000 in 2023. He praised ChatGPT for preferring gold to Bitcoin.
As usual, there seems to be no unity on the market – and ChatGPT’s is just one opinion. Whether the artificial intelligence was accurate with its recommendations is too early to say. ChatGPT proposed an investment portfolio for conservative investors who want to preserve their money during the recession. Buying digital assets is traditionally considered a high-risk investment. Also, the AI itself expects Bitcoin to grow in value in the long term so the cryptocurrency may still be a good lasting investment.
By Dmitry Noskov, Expert at StormGain, a cryptocurrency trading and storage platform