Jordi Visser, a bullish guest, argues that Bitcoin has already bottomed and is poised for significant gains, driven by the transformative forces of AI and inflation. He posits that AI will disrupt traditional finance by creating deflation in software and labor, while simultaneously causing inflation in the physical resources required for AI infrastructure, ultimately pushing investors towards a "scarcity portfolio" with Bitcoin at its core.
Summarized by Podsumo
Bitcoin has bottomed and will not stop quickly when it breaks higher next time. Jordi Visser believes the crypto winter will be the mildest ever, with Bitcoin already having bottomed.
AI is a massive disruptive force that will destroy "moats" and create "abundance" in software and knowledge work, leading to deflation in those areas.
AI is the "new QE": It allows companies to grow by replacing labor, but also creates inflationary pressures due to the physical constraints and underinvestment in compute, power, and raw materials (like copper, silver, DRAM) needed for AI infrastructure.
Shift to Scarcity Portfolio: In a world where AI disrupts everything, true scarcity assets like Bitcoin, gold, and specific commodities (silver, lithium, memory chips) will be the primary beneficiaries.
Bitcoin's historical performance: Bitcoin performs best (247% annualized) when CPI year-over-year is above 3-month bills and the Fed is on hold or easing – a regime Jordi believes we are entering.
"I'll put my neck out on the line here and say that the next time I see you, Bitcoin will be significantly higher."
— Jordi Visser
"Every single thing that people own as a store of value gets disrupted by AI. There's not a single thing that people own that you guys own in your lifetime. Nothing that won't be disrupted by artificial intelligence."
— Jordi Visser
"Get out of anything that is abundant and only be invested in things that are scarce."
— Jordi Visser