Jordi Visser

So when private credit and software become this big overriding fear, if people start worrying about AI companies and blah, blah, blah, don't worry about it.

AI is a very powerful, good thing.

People are going to live longer.

They're going to be happier.

I'll be drunk again soon.

So sober, Jordi, we'll be back at some point.

If the fiat system is $800 trillion and Bitcoin is $2 trillion, there's a rotation that'll happen.

And that's why deflation equals deleverage.

Deleverage equals Bitcoin to go higher as part of the rotation.

Whether it's 70,000, 100,000, 40,000, it's not the equation.

The equation that I care about in the chart that I'm looking at is Bitcoin relative to software.

When that starts to go higher, everything changes for me.

Yeah, so this has been a...

the last four months let's take it from october 10th since that seems to be the date that the crypto community has has um leaned on as the day that everything changed and let's combine that with the chart that everyone has now seen which is the software stocks relative to bitcoin and the fact that it's like a one for one overlay and and i will say not just now but for this so

When people like Lynn Alden and Sam Callahan wrote this really good piece on liquidity and how Bitcoin is basically ahead of the NASDAQ, but they're all this positive liquidity story.

It's like Bitcoin is the most sensitive to liquidity.

The most sensitive.

And Raoul Pal talks and shows the charts about liquidity to Bitcoin.

I'm not a subscriber to this now.

That made sense to me, let's say from 2009 or 2010, up until AI started to accelerate.