Bitget increased its headcount ahead of anticipated developments in crypto’s two largest decentralized networks and the intersection between AI and digital assets.
The crypto exchange added some 400 staffers to its workforce during 2023 in preparation for major industry trends involving Artificial Intelligence (AI), Bitcoin (BTC), and Ethereum (ETH). According to a letter from managing director Gracy Chen, Bitget’s hiring spree increased its employee number from 1,100 to 1,500.
Chen said the extra hands were needed to leverage technological upgrades that have galvanized Bitcoin fervor and gradually displayed its value to traditional markets. The web3 service provider cited the emergence of inscriptions and BRC-20 tokens following the launch of Casey Rodarmor’s ordinals protocol.
Spot BTC ETFs were also highlighted as a precursor for widespread adoption.
It is anticipated that the likely approval of the Bitcoin ETF in 2024, along with the next halving, will become a new narrative for BTC scripture. Assets such as BRC-20 under the Ordinals protocol, ARC-20 and Realm under the Atomicals protocol, and PIPE under the PIPE protocol, as well as the Bitcoin scalability sector, are worth continued attention.
Gracy Chen, managing director at Bitget
Additionally, Chen sees further growth for Ethereum’s ecosystem with the arrival of forthcoming updates like Cancun and Dencun. Cancun will tap Ethereum nodes to achieve temporary off-chain data storage and retrieval, giving dapps more bandwidth to innovate and deploy solutions.
Dencun will also introduce proto-danksharding, which developers tout as a step toward addressing high gas fees and enhancing Ethereum’s scalability. Testing for this upgrade is due to begin this month, crypto.news reported.
Bitget and Chen commented on the long-term potential of a combined narrative between AI and blockchain. The market cap of the AI-centric crypto industry has surpassed $9 billion, recording a massive 540% growth in 12 months as projects like Autonolas (OLAS) skyrocketed.
Nearly $2 billion of this increase happened in the final two months of 2023, signaling considerable interest in the crypto-AI sector. Regulation could play a significant role in how events unfold, with more jurisdictions paying attention to standardizing crypto activities.