'Of Course' Bitcoin Could Grow to $50 Trillion, Jordi Visser Says: But How?
Bitcoin could eventually reach a $50 trillion valuation, macro investor Jordi Visser says, as hedge funds unwind leverage while Bitcoin quietly outperforms every major asset class.Why Visser Says Hedge Funds Are Blowing Up, Not AIVisser said on Anthony Pompliano‘s podcast Saturday that the market selloff tied to AI stocks has nothing to do with AI itself failing.He compared it instead to 1998’s Long-Term Capital Management collapse, arguing leveraged hedge funds, not the AI buildout, are the real source of stress.His evidence: Lone Pine Capital was up more than 40% through September before giving back the entire gain, proof in Visser’s view that something structural is breaking in how funds use leverage rather than any flaw in AI’s growth story.Visser also pushed back on dot-com comparisons for AI infrastructure companies.CoreWeave , he said, differs fundamentally from that era since its revenue comes from Microsoft , Meta and OpenAI rather than speculative telecom debt.He argued AI’s eventual earnings remain inevitable because demand for compute keeps outpacing supply, even when individual stock valuations overshoot in the short term.Why Bitcoin Keeps Holding While Everything Else WobblesVisser said Bitcoin has traded between $82,000 and $85,000 for four months while the S&P 500 ) and Nasdaq sat flat and bonds declined, a sign he reads as Bitcoin acting as a safe landing spot as capital flees riskier, leveraged trades.He called this “good Sharpe ratio” behavior standing out precisely because so few other assets are generating clean returns right now.Asked whether Bitcoin could realistically reach a $50 trillion valuation, Visser said “of course it could,” pointing to roughly $900 trillion in largely illiquid global assets that tokenization could eventually unlock into liquid, tradable form.He argued the same logic applies to Bitcoin that Elon Musk has floated for SpaceX : as a much larger pool of capital turns liquid, a single asset’s value can scale right alongside it.Why Visser Flags November and December as Key WindowsVisser said he expects the next major move higher in both AI stocks and Bitcoin to come around two specific windows: right after hyperscaler earnings reports later this month, and again in December, when many funds stop taking risk for the year.He noted that AI-linked long-short positioning on Morgan Stanley’s prime brokerage desk has fallen to the seventh percentile of the past year, suggesting most leveraged risk has already been pulled from the trade.He downplayed September’s hotter-than-expected CPI print entirely, arguing that inflation readings between 2% and 3.5% have little bearing on markets unless they coincide with actual job losses, which he said remain near historic lows.Preview Photo via Shutterstock