Jordi Visser: AI and crypto will disrupt existing market structures, stablecoins are processing more volume than Mastercard, and Bitcoin’s performance is closely tied to software ETFs

Key Takeaways

• AI and crypto are poised to disrupt existing market structures significantly.
• The next decade may see a reshaping of money markets with different beneficiaries than in the past.
• Stablecoins are processing more transaction volume than major credit card companies like Mastercard.
• Profit margins are increasing even as job creation remains stagnant, presenting a unique economic situation.
• Investor fear is growing over AI’s potential to disrupt software companies.
• Bitcoin’s performance is closely aligned with software ETFs, indicating a strong correlation.
• AI’s rise has shifted attention and funding away from SaaS and crypto sectors.
• Despite current challenges, crypto is expected to recover, though it currently lacks venture capital support.
• Higher Bitcoin prices are seen as a key catalyst for changing market sentiment.
• The AI bubble is no longer a focal point, but software panic presents a buying opportunity.
• There is skepticism about the rotation of funds from gold and silver into Bitcoin and crypto.
• AI is expected to disrupt all fiat assets, with hard assets being the last to be affected.

Guest intro

Jordi Visser heads AI Macro Nexus Research for 22V. Prior to joining 22V, he founded and led Visser-Labs as Chief Strategist, advising asset managers on disruptions from AI and digital assets. He previously served as President and Chief Investment Officer of Weiss Multi-Strategy Advisers for two decades, where he built the macro strategy and developed the firm’s data analytics model for behavioral alpha.

The transformative potential of AI and crypto

• “AI and crypto are about to disrupt and change everything software is breaking growth investors are panicking.” – Jordi Visser
• The next decade could see a deflationary shock that reshapes money markets.
• “Stablecoins just processed more volume in a month than Mastercard does in an entire year.” – Jordi Visser
• AI’s impact is expected to cause significant shifts in economic structures.
• The rapid growth of stablecoins highlights their increasing importance in financial markets.
• “Profit margins are growing while job creation remains stagnant.” – Jordi Visser
• A unique economic situation is emerging with growing profit margins and stagnant job creation.
• “There’s a movement away from software from anything that is getting disrupted by AI.” – Jordi Visser
• Investor fears about AI disrupting software companies are on the rise.
• “Bitcoin versus software ETFs… they effectively track perfectly.” – Jordi Visser
• Bitcoin’s performance is closely tracking with software ETFs, indicating a correlation.
• “I didn’t expect the software panic to start this soon.” – Jordi Visser

AI’s impact on SaaS and crypto markets

• “AI has taken all of the attention away from SaaS and all of those startup companies.” – Jordi Visser
• AI’s rise has shifted focus and funding away from SaaS and crypto sectors.
• “I still believe crypto will come out of this differently but for now you have no VC money.” – Jordi Visser
• Despite current challenges, crypto is expected to recover, but lacks venture capital support.
• “People always ask me what the next catalyst for Bitcoin will be and I say higher prices.” – Jordi Visser
• Higher Bitcoin prices are seen as a key catalyst for changing market sentiment.
• “I had written a paper three weeks ago saying the AI bubble you never hear AI bubble anymore.” – Jordi Visser
• The AI bubble is no longer a focal point, but software panic presents a buying opportunity.
• “I think there’s a chance we made the low last week for both software and for Bitcoin.” – Jordi Visser
• There is a chance that recent lows for software and Bitcoin mark a market turning point.
• “I don’t buy that all of this money from gold and silver is gonna somehow rotate into Bitcoin and crypto.” – Jordi Visser
• There is skepticism about the rotation of funds from gold and silver into Bitcoin and crypto.
• “All fiat assets will be disrupted by AI, with hard assets being the final stage of this disruption.” – Jordi Visser

The future of job markets and entrepreneurship

• “Within five years, there will be significant disruption in knowledge work due to advancements in AI.” – Jordi Visser
• AI is expected to significantly disrupt knowledge work within five years.
• “The only way Bitcoin can get the money it needs is there has to be disruption where people question the assets that exist in the world.” – Jordi Visser
• Bitcoin needs disruption in existing assets to gain acceptance as a growth asset.
• “AI gives them education AI gives them an ability to build businesses.” – Jordi Visser
• AI democratizes opportunities for entrepreneurship, especially in developing countries.
• “Bitcoin likely will become the savings account and stablecoins will become for spending.” – Jordi Visser
• Bitcoin is likely to become a savings account in emerging markets, while stablecoins will serve as the spending currency.
• “Stablecoins have taken over the transaction side.” – Jordi Visser
• Stablecoins are likely to continue growing in transaction volumes, potentially outpacing Bitcoin.
• “The acceptance around the globe is happening.” – Jordi Visser
• The increase in stablecoin volumes indicates a growing acceptance and utility globally.

Stablecoins and their disruptive potential

• “Stablecoins are taking a hockey stick on adoption right now.” – Jordi Visser
• Stablecoins will disrupt traditional payment companies like Mastercard as their adoption accelerates.
• “AI and stablecoin both do is there’s an ability to take out the middlemen.” – Jordi Visser
• Stablecoins and AI can reduce the need for intermediaries, posing a challenge for companies like Mastercard.
• “The entire world of consumption is gonna change.” – Jordi Visser
• The rise of AI agents will fundamentally change consumption patterns, particularly through stablecoins.
• “NFTs are an important part of the next five years.” – Jordi Visser
• NFTs will play a crucial role in the next five years, not just in art but in community and experience.
• “By the end of this year we’ll have 200 IQ infinity running around.” – Jordi Visser
• By the end of this year, AI will significantly enhance idea generation, leading to innovative solutions.
• “The current NFT landscape is chaotic, but it will eventually lead to real use cases.” – Jordi Visser
• The current NFT landscape is chaotic, but real use cases are expected to emerge from the hype.

The role of NFTs in a digital future

• “NFTs become very important to me.” – Jordi Visser
• NFTs will become integral to proving the authenticity of real-world assets in a world increasingly filled with fakes.
• “It accelerates everything by many many multiples.” – Jordi Visser
• The proliferation of AI will accelerate the need for tokenization of real-world assets.
• “The value of an asset is determined by the belief of the masses.” – Jordi Visser
• The value of an asset is determined by the belief of the masses, not just the wealthy.
• “Democratization of money and asset ownership will give equal voting power.” – Jordi Visser
• In the future, democratization of money and asset ownership will give equal voting power to individuals regardless of wealth.
• “Human beings wanna deal with human beings.” – Jordi Visser
• Human connection will always be valued over automation in jobs.

Economic challenges and the role of AI

• “The current economic system is facing a significant challenge due to the unsustainable nature of systemic inflation.” – Jordi Visser
• The current economic system is facing a significant challenge due to the unsustainable nature of systemic inflation.
• “The world will be flooded with entrepreneurs eating away at enterprise business.” – Jordi Visser
• AI will lead to a surge of entrepreneurs that will disrupt traditional enterprise businesses.
• “The government will struggle to control the economic changes.” – Jordi Visser
• The government will struggle to control the economic changes brought about by AI and globalization.
• “We are heading towards a dystopian future.” – Jordi Visser
• We are heading towards a dystopian future where technological advancements will outpace societal adjustments.
• “We are printing tons of money which is why nominal GDP is growing so fast.” – Jordi Visser
• Significant money printing from both corporate and governmental levels is contributing to nominal GDP growth.
• “The wealthy may suffer more in the job market due to technological advancements.” – Jordi Visser
• The wealthy may suffer more in the job market due to technological advancements, while lower-income jobs remain stable.

Bitcoin and commodities in the investment landscape

• “Bitcoin should be viewed as a scarce commodity rather than a software asset.” – Jordi Visser
• Bitcoin should be viewed as a scarce commodity rather than a software asset.
• “Commodities are gonna continue to go higher.” – Jordi Visser
• Commodities, particularly silver and copper, are expected to continue increasing in value due to their necessity in technology and AI.
• “The US dollar is gonna weaken in my opinion.” – Jordi Visser
• The US dollar is likely to weaken as capital flows shift towards manufacturing outside the US.
• “Brazil stands to benefit significantly from AI.” – Jordi Visser
• Brazil stands to benefit significantly from AI due to its ownership of critical minerals.
• “Investing in commodities and manufacturing outside the US is more favorable.” – Jordi Visser
• Investing in commodities and manufacturing outside the US is more favorable compared to the US’s focus on software.