In a recent discussion, veteran macro investor Jordi Visser shared his insights on the comparative nature of Bitcoin and SpaceX, suggesting that both assets are driven by future potential rather than traditional financial metrics. Speaking on Anthony Pompliano’s podcast, Visser pointed out that neither Bitcoin (BTC) nor SpaceX (SPCX) can be accurately valued through conventional means; they are largely speculative investments shaped by belief in their potential.
Visser noted that SpaceX attracts investors due to the exciting prospects of space exploration—such as Mars colonies and the development of lunar infrastructure. Conversely, Bitcoin investors are motivated by the idea of establishing a new monetary system. Despite these parallels, Visser emphasized that the two assets are moving in opposite directions in terms of market momentum.
Currently, Bitcoin appears to be lacking “energy,” suggesting that investor interest has shifted toward artificial intelligence stocks, leaving cryptocurrency to struggle. This phenomenon has been echoed by other industry leaders, including Michael Saylor of Strategy Inc., who referred to this trend as the “AI summer slump.” Similarly, Mike Novogratz of Galaxy Digital commented on the prevailing lack of new buyers in the crypto market.
Additionally, Visser highlighted ongoing weaknesses in Strategy’s STRC preferred shares, which have also contributed to the negative sentiment surrounding Bitcoin treasury companies. This increasingly bearish outlook on Bitcoin stands in stark contrast to the positive reception of SpaceX, which recently held a highly anticipated initial public offering (IPO) that saw its shares close at $135, bringing its valuation to approximately $1.77 trillion.
As speculative capital continues to flow toward SpaceX and AI-related sectors, Visser implied that Bitcoin might require a cooling off period in AI investment for it to regain momentum. Earlier this year, he had described Bitcoin as the “ultimate AI-era scarcity asset,” predicting it would reach new all-time highs by 2026. His current sentiment, however, suggests a more cautious outlook, indicating that Bitcoin may remain stagnant until interest in AI diminishes, possibly later this year.
At the time of his comments, Bitcoin was trading at $64,065, with retail sentiment shifting from ‘bullish’ to ‘neutral’ as discussion around it faded. As the market dynamics evolve, investors will be keenly observing the trajectories of both Bitcoin and SpaceX to gauge future opportunities.
