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'SpaceX And Bitcoin Basically Mean The Same Thing,' Says Wall Street Veteran Jordi Visser — But Bitcoin 'Has No Energy' Right Now · Stocktwits
Jordi Visser said Bitcoin and SpaceX are "basically the same thing," arguing both are driven by belief in future outcomes rather than traditional valuation metrics.
Despite the comparison, Visser said Bitcoin currently has "no energy" as investors continue pouring capital into AI-related stocks.
He pointed to weakness in Strategy's STRC preferred shares as another factor weighing on sentiment around Bitcoin treasury companies.
Veteran macro investor Jordi Visser says Bitcoin (BTC) and SpaceX (SPCX)share a surprising trait, in that neither can be valued using traditional financial metrics.
Speaking on Anthony Pompliano's podcast on Saturday, Visser argued that both assets are driven primarily by belief in future outcomes rather than current cash flows or earnings."When something doesn't have a valuation, it can't be overvalued or undervalued. It has no valuation. It's a complete guess," he said. But while investors are pouring money into one, the other is struggling to attract fresh buyers.
According to Visser, investors buy into SpaceX because they believe in a future of Mars colonies, lunar infrastructure, and commercial space expansion. Bitcoin investors, meanwhile, are betting on the emergence of an alternative monetary system.
SpaceX's stock closed down by 3% on Friday. On Stocktwits, the retail sentiment around SPCX remained in the 'bullish' zone, while chatter around it stayed in the 'extremely high' levels over the past day.
Despite the comparison, Visser said the two assets are moving in opposite directions.
"Bitcoin has no energy," he said, arguing that momentum and retail capital have largely rotated into artificial intelligence-linked stocks and away from crypto.
The comments echo a growing narrative among industry leaders. Strategy Inc. (MSTR) Executive Chairman Michael Saylor has described the trend as an "AI summer slump," while Galaxy Digital (GLXY) CEO Mike Novogratz recently said the crypto market currently has "no energy" and "no new buyers."
Visser also pointed to weakness in Strategy's STRC preferred shares as another source of negative attention for the broader Bitcoin treasury-company sector.
The remarks came days after SpaceX completed its highly anticipated initial public offering (IPO) at $135 per share, valuing the company at roughly $1.77 trillion and generating as much as $85.7 billion in proceeds after underwriters exercised a "greenshoe" option, which allows banks to sell additional shares when investor demand exceeds expectations.
For Visser, the contrast highlights where speculative capital is flowing today.
He believes Bitcoin's next move higher may require the AI trade to cool off first, allowing investors to rotate back into other risk assets.
The view marks a notable shift from his stance earlier this year, when he called Bitcoin the "ultimate AI-era scarcity asset" and predicted new all-time highs in 2026. Now, Visser believes Bitcoin may remain stuck until enthusiasm for AI begins to fade, potentially later this year if broader equity markets lose momentum.
Bitcoin's price was trading at $64,065, as of writing. On Stocktwits, the retail sentiment around BTC moved to 'neutral' from 'bullish' as chatter around it stayed in the 'low' levels over the past day.
