Everyone Gave Up On Bitcoin At Exactly The Wrong Time | Jordi Visser
The Pomp Podcast
Anthony Pompliano
4.6 • 2K Ratings
🗓️ 4 July 2026
⏱️ 55 minutes
🔗️ Recording | Apple Podcasts | RSS
🧾️ Download transcript
Summary
Jordi Visser is a veteran macro investor with 30+ years of experience and the author of the VisserLabs Substack. In this conversation, we break down the AI mid-cycle slowdown, the Fed under Warsh and what rate cuts could mean for markets, the $90 trillion AI infrastructure buildout, memory and Micron's role in the AI bottleneck, and why Jordi believes bitcoin is positioned to be the best performing assets once the negatives of AI start to show up.
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- 0:00 - Intro
- 1:20 - Has bitcoin bottomed?
- 6:03 - Bitcoin vs the Mag 7: is the correlation breaking?
- 9:00 - Sam Altman, OpenAI & the government getting involved
- 11:11 - American open source vs Chinese AI models
- 14:28 - AI compute demand & the infrastructure buildout
- 20:37 - AI slowdown: how bad, how long?
- 22:44 - Where do markets go from here?
- 27:30 - AI agents in the workplace & security risk
- 34:50 - Memory, Micron & the AI bottleneck
- 39:53 - The next 10-20 years: robots, AI & society
- 44:18 - The Fed, rate cuts & inflation's impact on AI
- 49:55 - Why bitcoin wins in the end
Transcript
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| 0:00.0 | And as we go forward, I'm going to say it again. The AI mid-cycle slowdown is basically the peak and the easy money of AI. And so if the money starts filtering back towards the other direction, I've laid out a pretty bullish case for Bitcoin if you haven't got it. If we're overestimating the inflation side and productivity is coming, if we're overestimating the hawkishness of the Fed from what Warsh said, end at the same time, the AI |
| 0:21.9 | trade is not going to lose its earnings growth. It's just going to make it more difficult for |
| 0:26.1 | institutions to stay long at the way they have in the past. Then all of a sudden, the lower |
| 0:31.0 | volatility of Bitcoin will probably lead in. If we get above the 200-day moving average with |
| 0:35.4 | everything that I just said, which is up |
| 0:37.5 | north of 70 at this point, I do think that that's going to be the beginning of the next phase of crypto and the next phase of AI. We'll see if it happens in the second half of the year. I think it will. What's going on, guys? Today we've got a great conversation with Jordi Visser. It's 4th of July, So he's here to explain to us what's going on in the AI trade, |
| 0:55.4 | why he thinks that the mid-cycle slowdown is something you should pay attention. with Jordie Visser, it's 4th of July. So he's here to explain to us what's going on in the AI trade, |
| 0:55.4 | why he thinks that the mid-cycle slowdown is something you should pay attention to. He also describes why maybe some of the easy trades are gone and things are going to get a little bit harder from here. And then we talk about Bitcoin and why he's getting excited about Bitcoin once again. And then, of course, we go through a whole bunch of macroeconomic data points, |
| 1:10.9 | and he tries to unpack. |
| 1:11.6 | Why exactly are some people ignoring these data points and has he thinking about investing in his portfolio? |
| 1:17.6 | All of that much more in today's conversation with Jordie Visser. |
| 1:20.6 | All right, Jordy, happy 4th of July, a little 4th of July addition here with the American flag hat. Let's start with Bitcoin. |
| 1:28.4 | You know, a lot of people think Bitcoin is one of the most American assets you could have. |
| 1:32.1 | But Bitcoin's not been doing very well and it seems like people are starting to kind of give up a |
| 1:35.8 | little bit online. What's your take? Is that actually a good sign that you need people to give up |
| 1:40.6 | to get to the bottom of the bare market? Well, first of all, I think give up is an understatement. |
| 1:46.0 | It's very hard to find people jumping into it. |
| 1:52.0 | So if you kind of took a poll of 100 people that have never been in Bitcoin, |
| 1:57.0 | 100 of them will say I have no interest. |
| 1:59.0 | If you've had people that have been involved, at this point, I would say at least 60 to 70 percent are questioning any involvement |
| 2:05.9 | they've had. And so you've got kind of hardcore people that are still in there. I'll just, |
| 2:11.1 | I'll give you my take in terms of this. This has been a bad year for Bitcoin with a lot of headwinds, starting with |
... |
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