30-Year Expert: AI Capital Shift to Bitcoin Points to Macro Rotation
Global investment money may be changing course. Macro investor Jordi Visser’s view is blunt: the easy-return era in Artificial Intelligence (AI) is over, and Bitcoin and other digital assets could catch some of the money leaving crowded AI trades. Why now? Because price and risk no longer look as attractive in AI. AI investments are expensive; crypto may have more room to rise. My take: crypto investors should watch the rotation without treating it as inevitable. It may never arrive.
Visser has more than 30 years of experience and founded AI Macro Nexus / AI22 Research. Speaking on Anthony Pompliano’s show, he pointed to the sevenfold and eightfold gains seen in parts of the AI sector—and said they have stalled. The reason is not mysterious. AI systems cost a fortune to build. Shortages of chips and memory are squeezing margins, while companies such as Google and Anthropic may wait longer for profits. Investors have already priced substantial optimism into AI infrastructure and large language models (LLMs). Most guides frame this as an AI-growth problem. That is only half right: even a good investment can simply become too expensive.
“The ‘easy money’ trading model, where massive returns of 7-8 times the initial investment were achieved through AI, has come to an end,” Visser said. He added: “This doesn’t mean AI is dead; however, we’ve now entered a period of grueling and rational growth, typically around 30% annually. Capital is now seeking new avenues in terms of risk-return balance.” Annual growth of 30% is hardly sluggish. Still, compare 30% with multiplying an investment seven or eight times—the gap is enormous. Why does that matter? Because with interest rates high, investors are less willing to wait years for profits. I’ll be honest: “grueling” sounds odd beside 30% annual growth, but Visser’s point is about relative returns.
Visser expects AI and crypto to start coming together in the second half of the year. His proposed use cases are specific: autonomous AI agents could use cryptocurrency networks for micropayments and data transfers. Property verification is another possibility. Plausible? Yes. Proven at scale? No. If agents begin buying services without human approval for every tiny transaction, crypto could provide the payment rails. Bitcoin and other established networks might then gain demand from actual use rather than another speculative rush. Counter to the usual advice, the technology story matters less here than evidence of recurring transactions. That would be a more solid basis for growth. We are not there yet.
Bitcoin has also held up better than some investors expected during the recent economic turmoil, despite trading about 50% below its all-time high. Visser treats that resilience as one reason BTC might attract money leaving AI investments. I think the distinction matters: he is not claiming AI is failing. He is arguing that investors have probably collected the easiest gains already. Bitcoin brings a different risk set and could play a role in the machine economy he describes. It remains a risky asset. Full stop. Calling it a conventional safe haven would be a serious stretch.
What this means
Jordi Visser thinks the easy-money phase in AI is ending, which could push investors toward Bitcoin and other digital assets. His forecast treats Bitcoin as a more mature market than it was in earlier cycles and adds a second possible driver: payments between AI agents. If major investors accept that argument, BTC could draw steady demand and challenge important resistance levels. But capital does not have to travel neatly from AI into crypto. It could land in cash or bonds. Other stocks remain an option too. Yes, that complicates the rotation thesis—and it should. A better signal would be several weeks of falling AI share prices alongside a rising Bitcoin price. One wild trading day proves almost nothing.
Investors can test the argument by watching Bitcoin around $69,000 and tracking whether venture funding for AI slows or shifts into other markets. The $69,000 area was Bitcoin’s previous all-time high. A move above it, followed by a sustained hold, would suggest genuine demand; a quick spike would be much weaker evidence. Funding reports provide another check. If commitments to AI decline while funding for digital assets rises, Visser’s theory gains credibility. Is that enough by itself? No. The second half of the year must also show AI agents actually using crypto networks, not merely appearing in conference presentations. My take: real network activity is the harder—and better—test.
FAQ
Q: Who is Jordi Visser?
A: Jordi Visser is a macro investor with more than 30 years of experience. He founded AI Macro Nexus / AI22 Research. That background does not make the forecast certain, but it explains why investors are paying attention.
Q: What is Visser’s main argument regarding AI and Bitcoin?
A: Visser says investors have already captured the easiest gains in AI. Higher costs and hardware shortages are weakening expected returns, so he thinks some investment money could move into Bitcoin and other digital assets. The key word is “could.”
Q: Why does Visser believe the “easy money” in AI is over?
A: The sevenfold and eightfold gains recorded in parts of the AI market have stalled. At the same time, heavy spending is reducing margins. Shortages of chips and memory are pushing profits further into the future. The setup has changed.
Q: What kind of growth does Visser now expect for the AI sector?
A: He expects what he calls “grueling and rational growth” of about 30% a year. About 30% a year is still rapid growth, but it falls well short of the returns from the first AI surge. In my view, that comparison—not the word “grueling”—is the useful part.
Q: How does Visser envision AI and cryptocurrency integrating?
A: He expects autonomous AI agents to use crypto networks for small payments and data transfers. Property verification is a third possible use. If the activity becomes common, it could produce demand based on network use instead of speculation alone. Most commentary starts with token prices. Visser’s argument starts with utility.
Q: What makes Bitcoin resilient in the current macroeconomic climate?
A: Bitcoin has remained fairly durable during the recent economic turmoil, even though it is trading about 50% below its all-time high. Visser thinks that performance may appeal to investors leaving crowded AI positions. Durable does not mean safe.
Q: What is the significance of Bitcoin’s $69,000 price level?
A: The $69,000 level was Bitcoin’s previous all-time high. A move above $69,000 that holds would offer better evidence of sustained capital inflows than a price jump that quickly fades. Simple enough.
Q: How can investors track the shift of capital from AI to Bitcoin?
A: They can monitor Bitcoin near $69,000 and compare its price movement with venture funding reports for AI. Declining AI investment paired with rising digital-asset funding would support Visser’s theory. One data point will not do it; the pattern needs to persist for several weeks.
Q: When does Visser expect initial stages of AI-crypto integration to be observable?
A: Visser expects the first signs in the second half of the year. What would count as evidence? AI agents using crypto networks. Companies merely announcing plans or running small pilot projects would not clear that bar.
Q: Is this shift a “safe-haven” play for Bitcoin?
A: No. This would be a move between two risky growth markets, AI and Bitcoin. Bitcoin has a different risk profile and may find more practical uses, but it is not a conventional safe haven. Counter to the bullish shorthand, resilience and safety are not the same thing.