Arthur Hayes: Bitcoin is warning about a massive credit collapse triggered by AI On March 7, 2026, Arthur Hayes explained in an interview with Cointelegraph the deeper logic behind Bitcoin's halving: it serves as an early warning of credit destruction caused by AI disruption. As AI agents replace expensive SaaS services and high-paying jobs, a wave of unemployment will lead to debt defaults and threaten banks' solvency. Hayes concluded that Bitcoin is following the decline of struggling software stocks (IGV) rather than being supported by hardware giants in the broader U.S. stock market. Source: Cointelegraph