#1565 Jordi Visser | Bitcoin Is Front-Running the AI Revolution
🎯 Summary
Podcast Episode Summary: #1565 Jordi Visser | Bitcoin Is Front-Running the AI Revolution
This episode of the Pomp Podcast features Anthony Pompliano (Pomp) in conversation with Jordy Visser, a 30-year veteran of Wall Street. The discussion centers on macroeconomic trends, the impact of Artificial Intelligence (AI), and, most critically, the accelerating importance and valuation trajectory of Bitcoin as a foundational layer for the future digital economy.
1. Focus Area
The discussion primarily focuses on Cryptocurrency (Bitcoin and Stablecoins), Macroeconomics (Interest Rates, Inflation, Debt-to-GDP), and the Disruptive Impact of Artificial Intelligence (AI) on public markets and labor.
2. Key Technical Insights
- Bitcoin as the Base Layer: Bitcoin is framed not as a competitor to public stocks (like the S&P 500) but as the base layer of a new capital structure—the “S&P 500 of the future”—disrupting incumbent public businesses.
- Stablecoins as the Bridge: Stablecoins are identified as the critical bridge connecting traditional finance (TradFi) transactions (which feed into GDP) with the emerging digital economy. Their rapid adoption by major corporations (Amazon, Walmart, Stripe) signals massive network effect acceleration.
- AI’s Concentration Effect: AI innovation leads to exponential growth and extreme concentration of wealth in a few entities (like the Mag 7), which in turn exacerbates wealth inequality and puts pressure on the labor share of profits.
3. Market/Investment Angle
- Bitcoin CAGR Disagreement: Visser strongly disagrees with a recent Cowen report that projected Bitcoin’s Compound Annual Growth Rate (CAGR) at under 20% over the next five years. Visser argues that due to accelerating adoption (including sovereign wealth funds) and its role as a hedge against debasement, Bitcoin’s CAGR is likely to accelerate rather than decelerate as its market cap grows.
- Top-Heavy Market Dynamics: The current market feels like a bear market for the majority of S&P 500 companies, as performance is overwhelmingly driven by the “Mag 7.” This concentration suggests underlying structural weakness for the median public company.
- Tether Valuation Potential: Visser notes the CEO of Tether suggested a potential valuation of $2 trillion for Tether based on its business performance and asset holdings, highlighting the massive potential of the stablecoin infrastructure.
4. Notable Companies/People
- Jordy Visser: Wall Street veteran providing the counter-narrative to traditional institutional views on Bitcoin and AI.
- Cowen Report: A major Wall Street presentation that projected Microsoft, Nvidia, and Bitcoin as the top three market caps by 2030, but with a conservative growth rate for Bitcoin.
- Mag 7: Mentioned as the primary driver of current market performance, demonstrating how exponential technology breaks the law of diminishing returns for the largest players.
- Tether (Paolo Ardoino): Discussed in the context of massive profitability ($13.7B last year) and its potential valuation.
- Amazon, Walmart, Stripe, Shopify, Coinbase: Companies aggressively moving into the stablecoin and digital payments space, validating Visser’s thesis on stablecoin adoption.
5. Regulatory/Policy Discussion
- Clarity for Stablecoin Act: The passage of this act in the Senate is noted as a significant step toward providing a federal framework for stablecoins, further legitimizing and accelerating their integration into commerce.
6. Future Implications
The conversation suggests the next five years will be a “dystopian” and painful transition period driven by AI adoption. This acceleration of labor disruption will increase government subsidies, further driving up the Debt-to-GDP ratio, contrary to some optimistic AI projections. Bitcoin is positioned as the direct beneficiary of this wealth distribution crisis, acting as a necessary hedge for those displaced or disenfranchised by the top-heavy AI-driven economy.
7. Target Audience
Crypto/Web3 Professionals, Institutional Investors, Macro Strategists, and Technology Executives interested in the intersection of AI, monetary policy, and digital asset valuation.
🏢 Companies Mentioned
đź’¬ Key Insights
"I really do think with everything we're talking about, it's going to become very, very personalized, and people will be building their own solutions as opposed to depending on solutions."
"My partner Bitwise is the first and only Bitcoin ETF provider to openly publish its Bitcoin wallet addresses, allowing anyone to verify the fund's holdings."
"It's no secret that Bitcoin ETFs have taken Wall Street by storm. With over $35 billion in assets in just one year, it's become the most successful ETF launched in history."
"AI agents are critical to the explosion of stablecoins."
"We're seeing it right now with Circle. There's no doubt in my mind that Circle is kind of this energy that's going that is crypto related, but it's in the traditional finance world."
"if stablecoins are going to explode and we're going to be doing five times the amount of volume by the end of this year that we're already doing right now because of this, what about Ethereum, what about Solana, what about all the guardrails that are supposed to be benefiting from the volume expansion?"