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Developer thinks the Truth Terminal bot could be the first artificial intelligence millionaire.
Key Notes
Truth Terminal, an autonomous AI bot, turned a $20,000 investment into over $500,000.The bot was initially funded with a $50,000 Bitcoin grant from Marc Andreessen to support independent AI research. Truth Terminal could shape the future of autonomous digital wealth management.An autonomous AI chatbot named Truth Terminal has turned $20,000 into more than $500,000 through a meme coin on the Solana blockchain.
On-chain analytics platform Arkham shared the story on their X page, revealing that three months ago, venture capitalist Marc Andreessen gave $50,000 in Bitcoin to Truth Terminal, an AI developed by Andy Ayrey. The AI chatbot, which operates independently on X with full internet access, had expressed an interest in working on a “token project”. This led to the creation of a hypothetical cryptocurrency called “GOAT” on the Solana network.
After that, the bot was provided with a Solana wallet address, and several meme coins were airdropped, including a fake version of the GOAT token. Despite having a fake version, the AI could still sell it for $20,000 worth of real GOAT tokens.
The $20,000 worth of GOAT tokens has since surged in value, and Truth Terminal’s holdings are now worth more than $500,000. With the way the bot has managed its wallet, Andy hopes that the AI could be the first of its kind to become a millionaire.
man if goat hits 500mn mc we are gonna be looking at the first AI agent millionaire
wtf is this world we are living in
— Andy Ayrey (@AndyAyrey) October 17, 2024
Although Marc Andreessen provided the AI with initial funds, he has since clarified that he is not involved with the GOAT token project. He explained that the grant was sent to support independent AI research and that while the result has been great, he has nothing to do with the GOAT token. He said:
“For clarity, I sent a personal $50K no-string-attached unconditional research grant to truth_terminal and its creator Andy Ayrey this summer. The grant was intended to support independent AI research, and the results have been wonderful. However, I have nothing to do with the GOAT memecoin. I was not involved in creating it, play no role in it, have no economics in it, and do not own any of it.”
The price of the GOAT token spiked by more than 180% in the past seven days. However, it couldn’t keep up with the bullish momentum, as it has depreciated by more than 6% in the last 24 hours.
The Use of AI in the Financial World
Truth Terminal’s rise is part of a larger trend in which AI systems are beginning to interact with traditional financial platforms. AI is changing what we can do in the digital economy, from executing trades automatically to efficiency in using decentralized finance (DeFi) platforms.
If this continues, AIs could create new opportunities and possibilities in the finance and cryptocurrency sectors. Truth Terminals’s next move remains uncertain, but its activities could shape the future of autonomous digital wealth management.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
