#1546 Jordi Visser | Bitcoin’s Price Is About to SHOCK Everyone - Here’s Why
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Key Quotes
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🎯 Summary
Podcast Episode Summary: #1546 Jordi Visser | Bitcoin’s Price Is About to SHOCK Everyone - Here’s Why
This episode of the Pomp Podcast features Anthony Pompliano interviewing Jordy Visser, a Wall Street veteran with 30 years of experience, who presents a compelling, contrarian case for significant upside in Bitcoin, primarily driven by derivatives market dynamics and a shifting global macro environment.
1. Focus Area
The primary focus areas are Bitcoin derivatives (options market structure), potential short squeezes in Bitcoin and commodities, global macroeconomics (dollar weakness, inflation, tariffs), and the structural shift in asset allocation away from long-duration private assets toward liquid assets, including Bitcoin.
2. Key Technical Insights
- Asymmetric Option Pricing: Visser highlights a significant skew in the Bitcoin options market (observed on Deribit), where out-of-the-money calls are priced disproportionately high relative to puts. This suggests a high implied volatility expectation for upward moves or a large number of short call positions being written.
- Premium on Futures/Calls: The fact that Bitcoin futures and options are trading at a significant premium to the spot price (annualized rates exceeding the Fed Funds rate) incentivizes selling options, potentially setting up a gamma squeeze scenario if the price moves rapidly upward.
- Miners Overwriting Calls: Visser suggests that miners are actively selling calls against their production, similar to hedging strategies seen in traditional commodities, which could force them to cover short positions violently during a price spike, triggering a squeeze.
3. Market/Investment Angle
- Imminent Short Squeeze: Visser strongly predicts a violent, asymmetric short squeeze in Bitcoin later this year, fueled by the options market structure and community belief that shorts are trapped.
- Dollar Weakness and Inflationary Pressures: The weakening US Dollar, which Visser believes signals the end of its global reserve currency status, combined with worsening budget deficits and potential AI-driven power constraints, suggests rising inflationary pressures in the second half of the year.
- Shift from Long-Duration Assets: Due to rising nominal GDP and the potential for 10-year Treasury yields to move higher (contrary to expectations), long-duration assets (VC, private equity, tech stocks) are structurally disadvantaged. Bitcoin, being the opposite of a long-duration asset, stands to benefit from this capital reallocation.
4. Notable Companies/People
- Jordy Visser: The guest, a 30-year Wall Street veteran, provides the core thesis based on derivatives analysis.
- Michael Saylor (MicroStrategy): Mentioned for his role in bringing short options/gamma into the market via MicroStrategy convertibles, which contributes to the potential for asymmetric moves.
- Scott Bessent: His comments regarding 10% tariffs and the expectation that the dollar would strengthen were cited as a key macro indicator that has proven incorrect (the dollar has weakened).
- Stripe (Callison Brothers): Their keynote highlighting the rapid growth of AI/SaaS companies and the concept of “borderless financial services” was referenced as evidence of a changing digital economy structure.
5. Regulatory/Policy Discussion
- Tariffs and Inflation: The discussion touched upon the potential for 10% tariffs, noting that the market reaction (dollar weakening instead of strengthening) suggests fiscal/monetary policy is losing control over key economic variables.
- Government Control Over Rates: Visser expressed skepticism that the current administration or the Fed (Powell) can control the long-term interest rates (specifically the 10-year yield) due to underlying inflationary pressures.
6. Future Implications
The conversation points toward a regime change where liquid assets, particularly Bitcoin, will outperform illiquid, long-duration private assets. The weakening dollar and potential resurgence of inflation will force institutional capital (endowments, funds) to reallocate away from private equity and into shorter-duration, more liquid assets like public equities and Bitcoin. Bitcoin is positioned as a key beneficiary of this structural shift.
7. Target Audience
This episode is most valuable for crypto investors, macro hedge fund managers, derivatives traders, and institutional allocators who need sophisticated analysis on the intersection of derivatives pricing, macro trends, and digital asset valuation.
🏢 Companies Mentioned
Collison brothers
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Stripe
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The Callisons
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The Social Network
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Nominal GDP
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Scott Bessent
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Because I
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When Scott Bessent
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Stripe Sessions
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💬 Key Insights
"So if you're going to have this transfer, I believe a weaker dollar is incredibly bullish for the crypto side, it's incredibly bullish for Bitcoin, and it's very, very positive for emerging markets."
"And that's why for Bitcoin, it's incredibly powerful because you want—I mean, we're most of the users of crypto in the world are outside the US. The US does not dominate as a holder of crypto. That is dominated in terms of a number of users around the globe."
"I think crypto is the capital structure of the future for all of these little businesses, and they don't have to go through the concept of the public market, and that's what Michael Saylor talks about."
"I see an explosion of public liquid assets... a whole generation went now that it's playing in the crypto world, it's not on your exchange, right? But we went from 8 to 4,000 companies, but we got... coins of which 99 are nonsense, but there's a lot of capital—trillions of dollars now—that went and got diverted into these public liquid assets that otherwise would have gone into stocks or something like that."
"I say, 'Yeah, you see a decline in public companies. I see an explosion of public liquid assets.' Because a whole generation went now that it's playing in the crypto world, it's not on your exchange, right? But we went from 8 to 4,000 companies, but we got, you know, 20 million or whatever the number is now, coins of which 99 are nonsense, but there's a lot of capital—trillions of dollars now—that went and got diverted into these public liquid assets that otherwise would have gone into stocks or something like that."
"And one of the benefits from that—it's not just commodities, it's not just healthcare, financials—the other place that is very, very good in long-duration assets is Bitcoin. You know, the opposite is Bitcoin."
📊 Topics
#artificialintelligence
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#investment
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#startup
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