Visser: AI and Stablecoins to Reshape Money Markets; Bitcoin Tracks Software ETFs
Jordi Visser, head of AI Macro Nexus Research at 22V and former CIO of Weiss Multi-Strategy Advisers, says AI and crypto will disrupt existing market structures over the next decade. He highlights rapid stablecoin adoption—claiming monthly stablecoin volume now exceeds Mastercard’s annual volume—and argues stablecoins are taking over transaction activity while Bitcoin is evolving as a savings vehicle in emerging markets. Visser notes a powerful correlation between Bitcoin and software ETFs, attributing recent market weakness to investor fear of AI-driven disruption in software and SaaS. He forecasts a deflationary shock reshaping money markets, rising profit margins amid stagnant job creation, and a migration of attention and capital away from SaaS and early-stage crypto (limited VC funding today). Visser expects NFTs and tokenization to gain real use cases, predicts increased entrepreneurial activity driven by AI, and advises that higher Bitcoin prices are likely the catalyst for renewed crypto capital inflows. He is skeptical that flows from gold and silver will rotate en masse into crypto, and recommends viewing Bitcoin as a scarce commodity rather than a software asset. Key takeaways for traders: monitor stablecoin volume and payment-rails disruption, watch software ETFs as a sentiment proxy for BTC, and treat current software-driven market panic as a potential buying opportunity if price action confirms a low.
Neutral
The news is market-relevant but mixed. Positive structural items: accelerating stablecoin volume (claims it now outpaces Mastercard annually), broader adoption signals, and Visser’s view that Bitcoin could become a savings asset in emerging markets — these points are long-term bullish for on-chain activity and crypto demand. Negative/neutral near-term signals: correlation between Bitcoin and software ETFs and rising investor fear around AI-driven disruption imply increased volatility and possible continued outflows from risk assets (SaaS and early-stage crypto). Visser also notes lack of VC funding for crypto now, capping near-term capital inflows. For traders this suggests: short-term increased volatility and potential further weakness if software panic deepens (bearish intraday/near-term), but medium-to-long-term structural tailwinds (stablecoin payment adoption, NFT tokenization, AI-driven entrepreneurship) support eventual recovery. Similar past episodes: tech-sector panics tied to macro or sector-specific disruption have caused BTC drawdowns when correlated assets sold off (e.g., 2022 macro-driven crypto collapse), but structural adoption signals (e.g., growth in on-chain stablecoin use, DeFi activity) have preceded recoveries. Strategy implications: monitor stablecoin flow metrics and software ETF performance as sentiment proxies; use confirmed price-action lows and improving on-chain volume as buy signals; expect choppiness until VC and institutional flows resume or BTC posts sustained strength.