Visser Says Bitcoin Could Reach $50 Trillion Market Cap as Hedge Fund Deleveraging Lifts BTC

Veteran macro investor Jordi Visser said bitcoin could realistically reach a $50 trillion valuation, arguing the cryptocurrency is quietly outperforming all major asset classes as leveraged hedge funds unwind positions. He spoke on Anthony Pompliano's podcast on Saturday. Visser attributed recent sell-offs in AI-related stocks to hedge fund leverage rather than any failure of AI, comparing the pressure to the 1998 collapse of Long-Term Capital Management. He cited Lone Pine Capital, whose gains exceeded 40% by September before erasing them entirely, as evidence of a structural breakdown in fund leverage rather than a flaw in the AI growth story. Bitcoin has traded between $82,000 and $85,000 over the past four months while the S&P 500 and Nasdaq were flat and bonds fell, Visser said, adding that BTC is acting as a "safe landing spot" with equity-like Sharpe ratio behavior. He pointed to roughly $900 trillion in largely illiquid global assets that tokenization could unlock, and said the next major rallies in AI stocks and bitcoin would likely follow hyperscaler earnings later this month and December, when many funds stop taking risk at year-end.