The Pomp Podcast: Bitcoin Momentum, AI Hype, and Market Tactics with Moez Kassam

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When hype, liquidity, and conviction collide, markets can move in ways that reward patience and punish certainty. Today we're breaking down Anthony Pompliano's conversation with Moez Kassam, co-founder and CIO of Anson Funds. This one covers Bitcoin, AI, retail trading, and the art of staying on the right side of momentum. And Kassam's philosophy really cuts through the noise. He says it's about making sure you're on the right side of it. What I find interesting is that he doesn't fear hype blindly. Instead, he measures it, trades it carefully, and leaves before it gets crowded. Right, he compares it to musical chairs. Says you don't have to stay until the ninth inning. That mindset clearly shapes how he approaches Bitcoin too. Exactly. Kassam explains that his Bitcoin exposure started deal-driven, but over time it became real conviction. He came to believe Bitcoin has inherent value and is here to stay. The conversation has completely shifted from Silk Road and anonymity to institutions adopting Bitcoin directly, which changes the asset's long-term credibility in his view. Speaking of structure, they also dig into Bitcoin treasury companies and preferred equity. What's his take there?

He says the opportunity is in structure, timing, and first-mover advantage. But here's the warning: later entries become weaker as "the music" gets louder.

He calls the private-market version of this world "the Wild West," adding there's a lot of money being made, but when that market cools, there could be a lot of stress. That's a crucial distinction. Now, AI comes up as another major theme. How does Kassam view the disruption there? He sees it as real, but he's skeptical of the valuations. Compares the moment to the dot-com era and questions whether anyone really knows the winners yet.

His instinct isn't to make huge directional bets, but to structure around the theme while remaining cautious.

Smart approach given the uncertainty.

The conversation also moves into overnight trading and retail sentiment. What does his team watch for? They look for dislocations when stocks gap down on little news, especially around names that are about to get listed or re-priced. In those moments, thin liquidity creates opportunities. He also explains why he likes smaller, less crowded markets, particularly in Korea and Canada. His mantra is to zig when others zag. That thinking now shapes his shift away from difficult short selling and toward long activism, where influence, not just price, can create returns.

And Kassam closes with a reminder that perfectly captures his approach. He says his shop is built for flexibility, not permanence. "We are here for a good time, not a long time." In a market driven by sentiment, that may be exactly the point.