Macro investor Jordi Visser stated that Bitcoin (CRYPTO: BTC) could eventually reach a $50 trillion valuation during an appearance on Anthony Pompliano’s podcast.
Visser argued that the current market selloff is driven by the unwinding of leverage at hedge funds rather than a failure in the artificial intelligence sector. He pointed to Lone Pine Capital, which was up more than 40% through September before giving back its entire gain, as evidence of structural stress in leveraged trades. Visser also distinguished current AI infrastructure companies, such as CoreWeave (NASDAQ: CRWV), from the dot-com era, noting that CoreWeave’s revenue comes from Microsoft (NASDAQ: MSFT), Meta (NASDAQ: META), and OpenAI rather than speculative telecom debt.
Regarding Bitcoin’s performance, Visser noted that the asset has traded between $82,000 and $85,000 for four months while the S&P 500 (NYSE: SPY) and Nasdaq have remained flat and bonds have declined. He described this as “good Sharpe ratio” behavior, characterizing Bitcoin as a safe landing spot as capital flees riskier trades.
Visser said he believes a $50 trillion valuation is realistic, pointing to roughly $900 trillion in largely illiquid global assets that could be unlocked through tokenization. He applied the logic used by Elon Musk for SpaceX (NASDAQ: SPCX), suggesting that as a larger pool of capital turns liquid, a single asset’s value can scale alongside it.
Visser identified two specific windows for the next major market moves: right after hyperscaler earnings reports later this month and again in December. He noted that AI-linked long-short positioning on Morgan Stanley’s (NYSE: MS) prime brokerage desk has fallen to the seventh percentile of the past year. Additionally, Visser downplayed the significance of a hotter-than-expected CPI print in September, arguing that inflation readings between 2% and 3.5% have little bearing on markets unless they coincide with job losses, which he said remain near historic lows.
