Bitcoin Is the Toll Collector of the AI Economy | Jordi Visser

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Jordi Visser (0:56)

When it starts to happen, there's an AI theme behind it. I want to make sure people realize, when it comes to crypto, this is 100 percent for me about agents.

And I'm telling you, the amount of traditional people that continue to bang on my door to talk about tokenization, to talk about how to make money on this, they're doing their homework now. I think next year is going to be the year that we see the biggest moves in crypto because of it.

Anthony Pompliano (1:22)

What's going on, guys? Today we've got a great conversation with Jordi Visser. In this conversation, we talk about what's going on with AI agents, how crypto and Wall Street are coming together. Then we talk about the idea of this going from a contrarian to a consensus trade. And then Jordi and I, we debate a little bit as to general purpose models versus specialized workflows. Where is value going to accrue in the AI industry? And then we get into the bubble talk. All these people worried about a big bubble. And Jordi helps us separate both the signal from the noise. Here's my latest conversation with Jordi Visser. All right, Jordi, this week there's a Bloomberg piece about you. The Bloomberg piece said, forget the AI bubble. Jordi Visser says, the bankpocalypse has begun. Congratulations on the Bloomberg coverage. You're a big deal now.

But also...

Jordi Visser (2:04)

They waited for me to say something negative.

Anthony Pompliano (2:06)

Negative, they didn't say anything positive.

Jordi Visser (2:07)

No, no, no, the media loves to bearish things.

Anthony Pompliano (2:10)

Bankpocalypse will definitely get clicks. What is the bankpocalypse and why do you think it is coming?

Jordi Visser (2:18)

So I posted an X that morning. I didn't see the article until someone pointed it out to me.

We've talked about it before, but I really did a lot of it on my video last weekend. So rather than turn this into some like, the banks are all going to go to zero thing, the software companies went through their SaaSpocalypse. So number one thing, it's a play on the SaaSpocalypse thing.

SaaS got hurt for two reasons, or two stories behind it. One is the recognition from people that AI was going to disrupt seed-based SaaS software. Not all of software, cyber has done well, bitcoin miners have done well, they're in there as well, Microsoft's been fine. But the reality was AI hurt these companies despite the fact that they continue to print, for the most part, record earnings. And that was a sign, if you remember in that first quarter, one of the most important signals for everyone to think about when it comes to sectors is that because of exponential innovation and AI continuing to increase progress, at some point it will be a negative for almost every single industry. And especially, legacy industries. And I just want to make sure, because I tried to show that in the X-posts, and I'll use some of that here. I believe the banks now are going to go through a problem, which is they're going to come under multiple compression over the course of the next year because of two factors. One is the rise of AI agents, which means consumers are going from, let's say, lazy, individual small businesses with their money in banks that pay them zero yield. That's really good for the banks. When the banks can take your deposits, of which there's a lot, pay you zero, take that money invested in treasuries yielding 4%, short term, not like SVB did long term, but short term, you can get a spread on this. So we saw the article from Torsten Slock with an agentic bank run. So he was going a different angle, but that's part of it, and I don't want to say that there's going to be a run, because that's what's going to happen. What I want to say is that agents are not going to make mistakes. They are going to search for the cheapest way to do thing. And that means that as agents control more of the money decisions, banks are going to be in trouble. The second thing is that the guardrails are going to apply pressure as well, and this is where crypto fits in. So when you have the users, the consumers, no longer being humans, but being digital agents, and at the same time you have financial guardrails, which are being in the system more, where there's same day settlement, which means stable coins, which means tokenization, we're headed towards that.