Decentralized AI Could Surpass Bitcoin, Says DNA Fund CEO Chris Miglino
Decentralized artificial intelligence may become the next seismic shift in technology—one that could outgrow even Bitcoin, according to Chris Miglino, CEO of digital asset investment firm DNA Fund. Miglino shared why he believes distributed AI networks like Bittensor could radically reshape both tech and finance.
“The biggest thing we’re working on is our AI compute fund,” said Miglino, speaking from DNA House during the Consensus conference in Toronto. The fund is part of DNA Fund’s diverse portfolio, which spans algorithmic trading, liquid tokens, and high-yield investments. But today, AI is clearly the main focus.
“We’ve been entrenched into the TAO ecosystem,” he added, referring to Bittensor, a decentralized, open-source machine learning network. Unlike traditional AI development centralized in major tech firms, Bittensor uses a system of "subnets" to create specialized, incentive-driven marketplaces for machine learning models—an approach that allows projects to thrive through community support, staking, and mining, rather than venture capital.
DNA Fund has reportedly committed about $50 million in computing power to Bittensor, actively participating in mining operations across several subnets. Miglino emphasized that the firm is ready to collaborate with developers looking to launch within the ecosystem.
“We’re willing and ready to talk to anybody that wants to launch inside that ecosystem. Develop on the ecosystem, get validators that believe in your idea, and that’ll attract the miners. Suddenly, you’re in business—no VC fundraising required.”
This peer-to-peer model could be a game-changer, not just for AI development but for the business models that support it. For Miglino, the implications are staggering.
“I think it has the opportunity to be bigger than Bitcoin,” he said.
That’s a bold statement, especially considering Bitcoin’s $2.1 trillion market cap and its role in ushering in the era of decentralized finance. Yet, the growing belief among technologists is that AI—especially in decentralized form—will be a cornerstone of the next technological revolution.
Miglino isn’t alone in that belief. Ben Goertzel, a pioneer in artificial general intelligence (AGI), said that he recognized the importance of decentralization in AI as early as the 1990s, well before AI became mainstream.