E182: Jordi Visser: Wall Street Is All In On AI, But He's Buying Bitcoin Instead

Jordi Visser holds Bitcoin as the largest percentage of his net worth, has never sold any of it since buying starting around 2020, and says those holdings are up over ten times at the time of recording. He recommends a minimum 5 percent personal wealth allocation to Bitcoin as an insurance policy, disputes that Bitcoin at 60,000 to 120,000 dollars is expensive in 2026, and says he can guarantee it will be higher in ten years with more certainty than any other asset. He contrasts it with Ford stock, which is the same price today as it was 35 years ago. With total global assets at approximately 750 trillion dollars and crypto at roughly 2.7 trillion dollars, he sees fiat assets declining and crypto assets rising, and views Bitcoin as the durable index of the crypto ecosystem, with excess wealth from other tokens ultimately flowing back into it.

Visser did not engage with Bitcoin until 2020. His conversion began during COVID when he concluded that traditional recessions no longer exist because governments can print and distribute unlimited money directly to citizens. Bitcoin's rally ahead of other inflation hedges drew his attention, and he subsequently listened to Michael Saylor approximately seven times over one week, crediting Saylor with particular credibility because his business had been destroyed first by exponential innovation from Microsoft and then threatened again by zero interest rate policy eroding his cash holdings. Visser frames Bitcoin not only as a scarcity hedge but as a hedge against abundance, arguing that AI will destroy every single business and shorten the lifespan of all companies, including those currently growing parabolically. He identifies only three durable stores of value in his lifetime: religion, gold, and Bitcoin.

Visser connects his Bitcoin conviction directly to his view on AI. He predicts that within 15 to 20 years AI will produce cures for almost all diseases and make basic needs like transportation, food, and healthcare free or very low cost. He notes that ChatGPT 5.5 already has an IQ above 140 and expects AI to reach Einstein-level IQ, estimated at 160, by the end of this year. He argues that billions of AI agents operating at that level will run continuous Manhattan Project-style efforts on every major problem simultaneously. He acknowledges that if AI makes everything free, the purchasing power relevance of Bitcoin becomes less clear, which he treats as an open tension rather than a resolved one.

Outside Bitcoin, Visser currently owns Ethereum and predicts it will outperform Bitcoin in the current year, with Solana potentially outperforming Ethereum. He considers Ethereum the easiest crypto asset to value using discounted cash flow methods and believes tokenization and stablecoins are underappreciated drivers of its value. He recently rotated out of most memory stocks and into silver. His scarce physical asset holdings include silver, gold, copper, and stocks in countries that mine them. His scarce technology holdings include DRAM, optical fiber, optical semiconductors, and power semiconductors. He owns no SaaS software companies, believing they will be disrupted by AI, and owns no hyperscalers at this point.

Visser argues that Bitcoin's volatility has declined over time and now resembles the volatility levels that Nvidia and Micron Technology currently exhibit, making skepticism based on volatility increasingly inconsistent. He also notes that most people do not understand the fractional reserve banking system they already participate in, making Bitcoin skepticism a double standard. He was hired at Morgan Stanley in an accounting and controller role in derivatives despite being the first in his family to graduate college, became a partner around age 30, and credits his father's training in handicapping horse races with giving him the mathematical intuition useful in trading. He observes that a significant determinant of financial success on Wall Street is zip code, that large risk-takers are statistically likely to produce at least one big winner after which wealth gets conflated with intelligence, and that AI normalizes educational arbitrage by letting anyone learn from the equivalent of the smartest people in the world.

On health, Visser uses the acronym MINES, standing for meditation, immune system, nutrition, education, and sleep, and identifies nutrition as the top longevity priority because the immune system is rooted in the microbiome. He takes approximately ten pills per year and avoids supplements unless necessary. He identifies heart rate variability as the closest data point to a meaningful overall health indicator, noting it reflects how quickly the body can exit a fight-or-flight state and declines with age. After finding his own HRV was only in the middle of the range for his age, he committed to raising it and found the process significantly harder than losing weight, with the primary personal benefit being a reduction in rumination and worry.