Crypto's future is bright in the context of AI's assault on SaaS, says Kraken-backed SPAC
A Kraken-backed investment firm believes crypto is a stronger investment than SaaS due to the existential threat AI poses to software companies.Summary
Ravi Tanuku, CEO of KRAKacquisition Corp., a SPAC backed by Kraken, argues that the current crypto bear market is less concerning than the threat AI presents to traditional software-as-a-service (SaaS) businesses. He suggests that AI's ability to automate code writing poses a fundamental challenge to SaaS companies, potentially hindering their ability to go public. While not suggesting a direct influx of investment *into* crypto, Tanuku believes the digital asset thematic is a stronger secular story than SaaS, following closely behind AI as an investment opportunity. KRAKacquisition Corp. is seeking deals with crypto-native firms valued between $2 billion and $10 billion, and Tanuku is particularly interested in the intersection of crypto and AI, including potential tokenization to finance AI infrastructure.
(Source：CoinDesk)