Bitcoin Is About to Absorb a Historic Rotation | Jordi Visser
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What is the current macro environment affecting Bitcoin and software stocks?
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.
How does deflation influence investment in scarce assets like Bitcoin?
When that starts to go higher, everything changes for me.
What's going on, guys? Today, we've got a great conversation with Jordy Visser. This one gets very deep into what is going on with software stocks, the credit market, Bitcoin, how Bitcoin could benefit from deflation or inflation. That's going to be something that all of you are very interested in. And on top of that, we talk about the latest developments in artificial intelligence and how people are using this stuff, including, I surprised Jordy with one or two things he didn't know, which is maybe the first time that's ever happened on this show. Here's my latest conversation with Jordy Visser.
What role does AI play in the future of software stocks?
All right, Jordy, you published this great image. And I thought we could just go through this because I think this image really is going to show us how Bitcoin could benefit from deflation. It's going to talk about deflation and inflation. And it's also got the macro overlay of just like what's happening in the world and why so many people are probably offsides when thinking about interest rates, monetary policy, et cetera. But walk us through this image that you have here and kind of how people should think about what you're trying to communicate.
Yeah, so this has been a...
Why might public companies face extinction in the coming years?
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.
What is the significance of tokenization and real-world assets in markets?
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.
What are 'agent swarms' and their implications for security?
At some point, there's a breaking point for me, which is deflation starts to take over. So when you're in a point where the government is able to print enough money to stop the Jeff Booth kind of, we're fighting against deflation, exponential innovation is deflation, at some point there's no fight. um and you only get to that point when it's replacing labor now it's also a democratizing thing so i wrote a paper in substack this week about the democratization and i got into the end about how this destroys the capital structure of the world so what i believe we're entering into and the reason software is going down is because anything that can be recreated with ai meaning on code for now becomes worthless.
It might take 10 years. It might take one year. I don't agree with anyone that comes up with an argument that SaaS is fine. They are in a multiple compression because three years from now, we don't know what's going to happen. But what we do know is the cost of intelligence. I pay the same amount of money for Claude as I did a year ago. but its capabilities are 100, 1,000 times where they were, which means in technology, this deflation is happening rapidly. The Chinese are offering more models. So in a world of deflation, all of the code-based assets should go down.
How can anyone leverage AI applications for personal projects?
But when you get to deflation, that's when you start to care about hiding. And the only thing you can hide in is scarcity.
What are the upcoming trends and challenges in private credit markets?
So when you watch my videos, I talk about abundance, that's code, and then scarcity. We are in the scarcity seeking mode. Right now it's helped gold, it's helped silver, it's helped the physical things because for the majority of people that own the money in the world, they don't believe in Bitcoin.
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Chapters
8 chapters
1
What is the current macro environment affecting Bitcoin and software stocks?
0:00–0:22
2
How does deflation influence investment in scarce assets like Bitcoin?
0:22–0:51
3
What role does AI play in the future of software stocks?
0:51–1:21
4
Why might public companies face extinction in the coming years?
1:21–1:59
5
What is the significance of tokenization and real-world assets in markets?
1:59–2:19
6
What are 'agent swarms' and their implications for security?
2:19–3:37
7
How can anyone leverage AI applications for personal projects?
3:37–3:44
8
What are the upcoming trends and challenges in private credit markets?
3:44–52:35
Speakers
2 identifiedMore from The Pomp Podcast
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