Jordi Visser

This is the four companies spending $650 billion this year.

This is Meta, this is Microsoft, this is Amazon, this is Google.

They're spending $650 billion this year.

If they don't get the revenues in, then what happens is their equity has to go down, and their equity has to go down from a cap structure basis.

Now, again, they're making revenues over 15%, so this is not some bad story.

They have the capital to do this, but they become the line in the sand for everything.

My gut tells me if anything bad is gonna happen, it's gonna happen in the next month or two, and the reason I say that is because the condition of mutual funds and hedge funds in trying to reposition for this, and the reason they reposition quickly

So the beauty of the way I think about Bitcoin in this scenario, so I'm hoping it gets flushed with everything else and all of you should hear too.

This is a temporary thing and it's been matched up with SaaS.

I'd be more worried about Bitcoin if SaaS was going higher and Bitcoin was going down.

But these charts are overlaid for a reason because they're directly linked between the VC world and the investment side of the ecosystem, but also because of

It's built on code.

So it should go down.

And my ultimate theme has been that eventually when software is deemed to be problematic and AI is kind of this hard thing to invest in, which is where we are, Bitcoin would start to outperform.

And then all of the meetings going on that you should invest in digital assets, you'll start to see the money flow in from the public companies and from the enterprises, from the wealth management people.

But it's the only growth asset that is scarce.

All these other places, commodities are not growth assets.

Industrials are not growth assets for the now.

They are.

Those are cyclical.