Bitcoin Wins By Simply Not Playing The Time Game | Jordi Visser

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**Jordi Visser** (1:00)
The reason Bitcoin to me is the ultimate choice, it is the S&P 500 of 10 years from now, is not because of anything special about it from an innovation perspective. It's because it doesn't suffer from time, because it's not based on time. Everything else is based on time, and people are going to have to start to process that because the world is spinning much faster than it ever has.

**Anthony Pompliano** (1:22)
What's going on, guys? Today we got a great conversation with Jordi Visser. In this we talk about AI stocks, why it's bounced so hard off the bottom, how Jordi is thinking about interest rates, inflation and the recent report. And then we get into what's going on in the crypto world. Blockchain companies and Figure Technologies is absolutely exploding. He explains how he thinks about that. And then we have a very philosophical conversation about time and why AI agents may be changing the way you should think about earnings and different economic interests that's going on in the market. Here's my latest conversation with Jordi Visser.
All right, Jordi, the bears are in disbelief. The S&P is at a new all time high. The bull market continues. Woo, what's going on? Why are stocks still going higher?

**Jordi Visser** (2:00)
Everyone hates AI. So that's why it's going higher.
What do you wanna say? Earnings are growing and the S&P is not growing at the same pace as earnings right now. So right now we're headed for year over year at above 30%. The S&P when you annualize the performance, we're gonna come in assuming that we continue at this pace somewhere in around 20%. So we've seen multiple compression. Everyone started to build in rate hikes.
We've got inflation that just keeps surprising on the lower end, but people keep worrying that it's gonna go higher. I think it's actually kind of amazing that we have rate hikes built in at all. Two year rates are still well above the Fed funds rate right now.
So I think in general, when you go through everything and you realize we just had a negative payroll job number, we had inflation on the lower end, we had PPI surprise there, we had the retail sales number which came out soft. The economy is good, but most of the good is happening with inside AI. I think we're just at a point where people are having a hard time embracing this. I just will say for valid reasons, particularly when you look at some of the AI charts, if you go to the COSPI and you visually look at the chart, it broke down hard. It looks a lot like Bitcoin. It just happened in a month as opposed to nine months. But here's the reality. It's still up 70% of your date. Or, yeah, the COSPI 200 is. And that just makes it a scenario that I think people are going to remain bearish the entire time. And it's a reflection of them not understanding AI. And I think this is going to be a problem that continues. So we'll be climbing a wall of AI worry for a long time.

**Anthony Pompliano** (3:42)
You basically called the bottom of the AI draw down here. You said situational awareness was the capitulation event you thought that we had bottomed. It does look like we've done that. You have an AI thematic portfolio that you've put together. People can go find this at 22vresearch. I think the URL is ai.22vresearch.com.
And that portfolio has, if I remember correctly, like 100 names or so. And it has bounced super hard off of the bottom. Talk a little bit as to like the themes that you've put in there. And then why do you look at this as somewhat of like an index of the AI trade?