Veteran macro investor Jordi Visser compared Bitcoin and SpaceX as 'basically the same thing' during an appearance on Anthony Pompliano's podcast Saturday, arguing both assets are driven by belief in future outcomes rather than traditional valuation metrics. Visser stated that when something has no valuation, it cannot be overvalued or undervalued. Despite the comparison, Visser noted Bitcoin currently has 'no energy' as investors continue rotating capital into AI-related stocks, while he pointed to weakness in Strategy's STRC preferred shares as another factor weighing on sentiment around Bitcoin treasury companies.
Visser Compares Bitcoin and SpaceX as Belief-Driven Assets
Visser argued on the podcast that both Bitcoin and SpaceX share a trait in that neither can be valued using traditional financial metrics. '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.
According to Visser, investors buy into SpaceX because they believe in a future of Mars colonies, lunar infrastructure, and commercial space expansion. Bitcoin investors are betting on the emergence of an alternative monetary system.
SpaceX's stock closed down by 3% on Friday. On Stocktwits, retail sentiment around SPCX remained in the 'bullish' zone, while chatter stayed at 'extremely high' levels over the past day.
Bitcoin Faces Capital Rotation to AI Stocks
Despite the comparison, Visser said the two assets are moving in opposite directions. 'Bitcoin has no energy,' he stated, arguing that momentum and retail capital have largely rotated into artificial intelligence-linked stocks and away from crypto.
The comments echo statements from industry leaders. Strategy Inc. Executive Chairman Michael Saylor described the trend as an 'AI summer slump,' while Galaxy Digital CEO Mike Novogratz said the crypto market currently has 'no energy' and 'no new buyers.'
Visser pointed to weakness in Strategy's STRC preferred shares as another source of negative attention for the broader Bitcoin treasury-company sector.
Bitcoin's price was trading at $64,065 at the time of writing. On Stocktwits, retail sentiment around BTC moved to 'neutral' from 'bullish' as chatter stayed at 'low' levels over the past day.
SpaceX Completes IPO at $135 Per Share
The remarks came days after SpaceX completed its initial public offering 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. 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 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.
FAQ
What did Jordi Visser say about Bitcoin and SpaceX on Saturday?
Jordi Visser stated on Anthony Pompliano's podcast Saturday that Bitcoin and SpaceX are 'basically the same thing,' arguing both are driven by belief in future outcomes rather than traditional valuation metrics. He said when something has no valuation, it cannot be overvalued or undervalued.
Why does Visser say Bitcoin has no energy?
Visser argued that momentum and retail capital have largely rotated into artificial intelligence-linked stocks and away from crypto. He pointed to weakness in Strategy's STRC preferred shares as another factor weighing on sentiment around Bitcoin treasury companies.
What was SpaceX's IPO price and valuation?
SpaceX completed its initial public offering 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.
