“The Bitcoin Burrito” - Bitcoin vs AI: Where Should You Invest?

**SPEAKER_1** (0:00)
Bitcoin hitting 250, and Jason from All Insane take all your money away from crypto and put it into AI. If you're in crypto, pivot to AI.

**SPEAKER_2** (0:10)
But look when he tweeted it.

**SPEAKER_1** (0:11)
Yes, in 2023

**SPEAKER_2** (0:13)
2023

**SPEAKER_1** (0:13)
Which by the way, that's a pretty good pivot.

**SPEAKER_2** (0:15)
He nailed it. Look, people get hit. Jason Calcanis had a hard time. People should have listened. Maybe I should have listened to him.

**SPEAKER_1** (0:21)
If you were not.

**SPEAKER_2** (0:23)
No, look, I've always believed that when I buy things, I try really hard never to sell them.
And so, there's nothing you're going to do to convince me to sell my Bitcoin.
But I did. Maybe I'm a good example. We built Sylvia, right? We started to use the new technology. I've always been industry agnostic, interested in technology, right? Bitcoin was one technology. We've got AI, etc. But I do think that there's more...

**SPEAKER_1** (0:47)
Are you more pro, are you more optimistic with Bitcoin today or AI?

**SPEAKER_2** (0:52)
I think that they actually reinforce each other. And if you think about what does AI do, AI is, from an offensive perspective, it's going to help companies go make money, it's going to be abundance, right? It's going to create a lot of stuff. Bitcoin is all about scarcity. So in a world of abundance, scarcity becomes more valuable. I think that Bitcoin will still continue.

**SPEAKER_1** (1:09)
Let me ask a question in a different way. So I know you're running for office with Bitcoin, the way you gave the answer. What is more likely to 10x faster? Bitcoin, if I take a million dollars and I put it in Bitcoin or if I put it in AI, what's more likely to 10x?

**SPEAKER_2** (1:23)
It depends what in AI, but AI for sure. Well, think about Bitcoin has gone, it's a trillion and a half dollar asset, right?

**SPEAKER_1** (1:30)
It lost $235 billion, the recent one that they had. It's down to 60, I don't know where it's at, but 62K right now.

**SPEAKER_2** (1:36)
If you had asked me, so in 2018, the bear market, that's when I first started really going on television talking about it. And I used to think like, these people think I'm an idiot, but I can't believe how easy this is gonna be because the thing just fell 80%.
If you start talking about an asset when after it's down 80%, the odds is if it goes back to an all time high, you look like a genius, right? And so that's a very different story than now when you're talking about when it's $60,000. And so I think that Bitcoin, just given the size, the volatility is compressing, the asymmetric returns that used to be there are very different. Now go look at gold. I don't think that there's a lot of folks buying gold because they think it's gonna 10X in two years. Instead, they're buying gold because they're like the government's never gonna stop printing money, it's gonna continue to appreciate. That's really in my mind, Bitcoin is kind of gold, but a better return over the next decade or so. The AI stuff, though, is creation from scratch. So my investing framework is, when you create something from scratch, that is where asymmetry lies. Bitcoin got created from scratch, it became very valuable asymmetry.
AI today, we're starting at zero, we're not gonna go create it, there's gonna be a lot of asymmetry. But at some point, AI will hit enough mass adoption where it becomes still very attractive, it's just not gonna be 10X in two years, and I think that Bitcoin is already there, and gold at some point will get there too.

**SPEAKER_3** (2:47)
Tom?
Where am I at right now? I'll answer that question, where I'm at right now. I see investing right now as a burrito, and I'm putting... Burrito? No, I'm... I have AI stocks and AI blend, but then I also have guacamole. I'm still buying Bitcoin. I'm not buying a ton of Bitcoin.

**SPEAKER_1** (3:12)
You're hungry, Tom.

**SPEAKER_3** (3:13)
But I'm...
I bought Bitcoin earlier this week. Yeah. It's on like low 60s. And so is there a little dollar cost averaging? Yeah, I'm not heavy Bitcoin by any means whatsoever, but I bought some because I believe that this is just where it is. Now, am I out there with the Bitcoin bulls and half of what I have? No, no, I'm not. But I'm still there, and I don't think AI and Bitcoin are mutually exclusive. And you already heard what I would say here. And actually, you guys have kind of convinced me. Remember, I was sheepishly 25% when I said open AI. I'm probably not. And I like the analysis that we heard here.