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0:00 I think next year is going to be the year that we see the biggest moves in crypto because of agents. What's going on with Bitcoin? >> It's consolidating. >> No, no, no. So, I I I do want to give because I've a bunch of people have asked and I I want to make sure everyone hears this. For Christ's sake, be patient. >> >> Jordy, why isn't it at 100k? >> Yeah, exactly. >> Come on, it's October. What happened?
0:23 >> Let me go through I want everyone to go bring up a chart of Micron. You know, we talked about Micron when it was $100. We talked about when it was 150. If you go look at 2024, we started this thing. A lot of people in your office bought my bought Micron. Should I stay in it at 200? Should I get out at 200? It went to 1400. Now, if you go back and look, it broke above the 200-day moving average just like Bitcoin, just like Ethereum.
0:51 And then it retraced back to it. It tested it. I I'm not sure that's going to happen with Bitcoin and Ethereum and the rest of the crowd, but you have to go look at why that happened. When it starts to happen, there's an AI theme behind it. I want to make sure people realize when it comes to crypto, this is 100% for me about agents. And I'm telling you the amount of traditional people that continue to bang on my door to talk about tokenization, to talk about how to make money on this.
1:22 They're doing their homework now. I think next year is going to be the year that we see the biggest moves in crypto because of agents. And so, I just want people to realize that I've watched this now a lot, but in particular with the semiconductors, it took a long time when it was obvious to me because of AI, because we were going to need an enormous amount of memory, but very smart people were not on it. And right now, there are a lot of smart people running around saying we're in a bubble.
1:51 That prevents people from jumping into anything. They see the rates going higher. Everyone should be grateful that with rates going up as much as they are, Somehow or crypto went higher with gold going down as much as it has gone down. Crypto somehow has been distancing itself and going higher. So, when you go through this whole thing, I I I really do believe people have to be patient with this. it's a bull market and I feel comfortable in saying that because I said when it was a bear market, we're above the 200-day moving average, the 200-day moving average is pointed upward. Just be patient. These things can never go as fast as you want and the thing that will accelerate it the most is when the traditional finance crowd comes into it and for that we need the tokenization volumes to go higher.
2:34 We need the tokenization asset size to go higher. We need the stablecoin volumes to go higher. That's why I talk so much about Stripe cuz Stripe is talking about this daily. It's happening. >> So, in the last 2 weeks, I have seen BlackRock. I have seen Bloomberg. And also Citrini, they put out a research piece with a nice image that had DeFi on Wall Street on it. And if I did not know Citrini wrote it and I read through the the notes of this, it could have been Jordi Visser piece in terms of the the main message of there's this intersection of crypto and Wall Street.
3:16 I think that some people will read some of these other pieces whether it's BlackRock, whatever, and be like, "Oh my god, Jordi Visser's ideas are infiltrating, whatever." You said something to me interesting though, which is this is good because it means that like we're transitioning from almost like a contrarian view to consensus view and you kind of need that. Can you explain a little bit as to as people see this idea show up in other places, why that's actually a positive sign?
3:42 >> It when you when you talk so the way people view you, oh. You've been positive on Bitcoin for how many decades now? >> Well, Satoshi got the idea from me, didn't he here? >> So, I don't bring that up as as as a dig. I bring that up as once you kind of have this story that you say over and over again, and this works for me, too. Your voice doesn't appeal to people who don't believe in you cuz they go, "Well, he's a perma bull on crypto, so it doesn't matter." So, in fairness, the reason I'm saying this is if Jordi gets viewed as someone who will only be positive on Bitcoin, which isn't true, >> You were bearish last year.
4:31 >> No, but bearish was say I was never bearish. What I said is we're in a bear market. Like you're acknowledging the facts. You can't fight the market. Like the market is the market. I believe the market knows everything. What we are trying to do is forecast what the market will think in the future. And people have to realize the only way you make money in anything that you invest in >> >> is not because you were right. It's because other people that didn't agree with you at the time came in and pushed that asset higher. At the end of the day, you are trying to bet where the money is going to go, not where the asset is going to go. So, that is the problem that happens. We I mean, salesforce.com is down, yet their earnings are good. So, fundamentals don't matter. What's driving it? It's because people were overweight SAS because they had a view that it was a stable business because private credit has a lot of software. There's a bunch of reasons. So, for me, we need Citrine.
5:25 We need BlackRock. We need other voices to speak up. In fact, I'm going to say this right now. Jordi wants to go to as many conferences next year that make sense. Now, I'm saying this, you're going to help me. I've already reached out to Natalie. Like I'm going to I'm going to get out there because I do want to sit and make sure that people hear why I'm positive on it. >> Jordi Visser world tour? >> Yeah, I The one thing I don't >> T-shirts made.
5:50 >> >> The one thing I don't hear enough about is the connection that Citrine did, which is agents to crypto is really important. It gets back to the Marc Andreessen piece. And that's why I don't want this to to the basement. I don't want Oh, the bonds are going down and the government's going to have to step in. I believe a year from now it is very likely that 10-year yields will be about the same level a year from now as they are today.
6:14 >> Okay. >> The only way I'll say they'll be lower is because if the jobs market gets noticeably weaker, which I don't think it will over the next year. I definitely think it's going to hover around zero, but if it got weaker, then the debasement thing will become bigger thing. But other than that, it's because we're growing so fast. What that meant means is the only thing that's driving growth is AI. It's the only thing. And so the bet becomes about AI, and I have full belief that demand is greater than supply over the course of the next few years. So the build-out is going to happen. The spending is going to happen, which means nominal GDP is going to happen. I don't think the government can move rates down lower. And so if we're going to run this thing hot, that means the agentic world will continue to accelerate, and that means crypto's going to do well. So I think the pieces by Citrini, by BlackRock, by everyone is very important. I think where my edge is in this whole thing is really spending the time every single day of connecting consumer agents importance to what's happening right now. And when you look at that chart that I've said so many times from page 71 of Situational Awareness, everyone should just recognize that the chaos is going to be worse next year than it is this year. What we saw this year, all of the chaos, the daily Oh, we're in a bubble. We're this. It's only going to get worse because people are overwhelmed with the speed of change, and we're going to accelerate next year in speed of change.