Bitcoin could benefit if artificial intelligence disrupts labor markets or creates volatility that prompts central banks to ease monetary policy, according to Greg Cipollaro, research leader at cryptocurrency services firm NYDIG.

Artificial intelligence may prove to be a “general-purpose technology” like electricity, and the macroeconomic impacts it will have on employment, economic growth and risk appetite will weigh on Bitcoin (BTC), Cipollaro said in a research note on Friday.

“If AI-driven growth occurs alongside increased liquidity and containment of real interest rates, this backdrop could be supportive for Bitcoin,” Cipollaro said. “But if stronger growth lifts real yields, tightens policy, and reduces the need for monetary easing, Bitcoin could face headwinds.”

“Conversely, if AI leads to labor disruption or volatility that stimulates fiscal expansion and easier monetary policy, the resulting liquidity drive will likely favor Bitcoin,” he added.

The economy is already seeing the impact of technology, with companies indicating the adoption of artificial intelligence as part of broader restructuring efforts

Jack Dorsey said on Friday that his payments company Block will cut nearly 40% of its staff due to artificial intelligence, and he predicted that many companies will soon follow suit.

The transition of AI can be choppy and uneven

The research arm of Goldman Sachs claimed in an August report that widespread AI adoption could displace up to 7% of the US workforce, but would also likely create new jobs.

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Cipollaro acknowledged that the transformation “will present challenges,” requiring redesigned workflows, new skills, and additional investments. However, he expects AI to follow the same “historical pattern” as previous technological developments.

“The implication is not that disruption will be painless, but that the balanced response to new technology has historically been integration, not obsolescence. Society’s response to AI will likely follow the same pattern,” he said.

“Companies that integrate them effectively will expand margins and productivity gaps. Workers who adapt will enhance their relevance. Those who resist may fall behind,” Cipollaro added.