Dogecoin & Bitcoin Are Both Signaling Something Big? | Jordi Visser

**SPEAKER_1** (0:00)
No one goes to Hanks for his spreadsheets. They go for a darn good pizza. Lately, though, the shop's been quiet, so Hanks decides to bring back the $1 slice. He asks Copilot in Microsoft Excel to look at his sales and costs and help him see if he can afford it. Copilot shows Hanks where the money's going and which little extras make the dollar slice work. Now Hanks has a line out the door. Hanks makes the pizza, Copilot handles the spreadsheets. Learn more at m365copilot.com/work.

**SPEAKER_2** (0:30)
Adobe Firefly is the all-in-one creative studio with AI-powered image and video editing for today's creative process.
Built for creators of every kind, Firefly helps you generate, edit, and experiment fast because the asks aren't getting smaller, the budgets aren't getting bigger, and the timelines, oh yeah, still tight. With all the best creative AI models in one place, Firefly brings your ideas to life. Unlock a better way to make, with Adobe Firefly.

**Jordi Visser** (1:00)
Because of what I believe with tokenization, because of what I believe is happening with the network effects, the fact that yesterday the Clarity Act probability skyrocketed up to 73% before the end of the year. I believe we are in a very important point in crypto where a year from now.

**Anthony Pompliano** (1:16)
What's going on guys? Today we got a great conversation with Jordi Visser. Jordi goes through what's going on in the macro environment, why stocks hitting all time highs may be a tale of caution, what's going on with interest rates, inflation, where he thinks we go from here. Also Bitcoin and Dogecoin. Jordi talks about Dogecoin as a signal for something he's paying attention to. And frankly, it made a lot of sense once he explained it. All that and much more in this conversation with Jordi Visser.
All right, Jordi, let's start with the new all time high in the stock market. It feels like the month of May is the coming out party for the stock market. There's been nine or 10 trading days of the month, yet we hit six different new all time highs already. And so the momentum is just begetting more momentum. What is driving all of this excitement, enthusiasm and potentially froth in the stock market?

**Jordi Visser** (2:03)
Yeah, we've made new all time highs, but there's one part of the market that continues to drive it, which is the AI trade. It isn't just semis, but semis are the fuel. That's where the speculation is. And we've been able to navigate through everything that's going on with semis driving everything. The one thing I want to say is, as people are watching this and...
The stock market is making new all time highs, but you hear these comments over time that it's doing it without a lot of breath. It's very concentrated. And that's one of the situations that we've been in over the course of the last couple of weeks. We're actually seeing a lot of 52 week new lows.
As many and in some days more than 52 week new highs. Now, 52 week new highs and lows are just over the last year. So when you say all time highs, we actually have a lot of names that are making new lows. We only have just above or right around 50% of the stocks above their 200 day moving average. That's a one year moving average effectively, or close to it. So this is not a broad rally. And whenever this happens, that means there's a struggle going on. The things that are near the 52 week lows remains software, which is still being disrupted by AI. It's not all software, but a lot of software companies.
And then you also have everything related to the consumer. So you've got McDonald's close to 52 week lows. You have Nike near 52 week lows. You have, I can go through like a list of these Whirlpool on the housing side. Everything on the consumer side has been an issue. Now, historically, when consumer stocks are going down, that means inside the market, we're starting to say the economy is gonna weaken. And again, that's on the back of rates moving higher and oil moving higher. And we have a very exhausted situation. And I mentioned this last week, and I did for my subscribers a Tuesday video just saying we're not only exhausted, which means the market has, on the semiconductors, has reached an all-time high, but it is so stretched relative to every metric you can. It's kind of like going a year without rain in California and being in one of those hills where all it takes is a match and all of a sudden things go. And this week we started to see a lot of signs that semiconductors are at risk, especially memory prices. And my gut tells me, because I've been waiting for this inflation regime, that we're in it now.