Jordi Visser on AI Trade Peaks and Whether Crypto Is Next
Visser laid out his thesis in a video interview clip in which he says the highest-return stretch of the AI trade may be over, published on YouTube .
Macro investor Jordi Visser has argued that the most profitable phase of the AI trade may already be behind the market, raising the question of whether crypto is the next area of capital rotation to watch.
Why Jordi Visser Thinks the Best AI Trade Window May Be Closing
Visser laid out his thesis in a video interview clip in which he says the highest-return stretch of the AI trade may be over, published on YouTube. For related coverage, see Jordi Baylina, Co-founder of Polygon, Launches Independent Zisk Project.
The distinction he draws is between the long-run adoption of AI as a technology and the shorter-term profitability of the AI trade as a market position. One can keep growing while the other matures and delivers diminishing returns. For related coverage, see Hungary Repeals Crypto Validation Rule as CoinCash Wins First MiCA License.
That framing matters because investor expectations and positioning tend to peak before fundamentals do. Once a theme is widely held and priced in, the easy gains from being early are largely gone, even if the underlying technology keeps advancing.
Visser’s point is not that AI is finished, but that the phase where the trade paid the most may have passed. Readers following cross-market rotation narratives will recognize this as a call about where marginal capital goes next, not a verdict on AI itself.
If AI Leadership Fades, What Makes Crypto the Next Area to Watch?
The follow-on question is whether crypto becomes the next destination for risk capital searching for a high-beta growth theme. Visser has separately argued that bitcoin is effectively an AI trade in its own right, framing it as the one such trade that AI cannot destroy, as reported by TradingView.
Reporting on his broader view suggests he sees a turn toward bitcoin and ethereum as the AI trade cools, according to Benzinga. The logic ties macro sentiment and risk appetite to narrative momentum: as one theme saturates, capital hunts for the next one.
For that rotation to hold, the signals would need to line up in crypto’s favor: improving risk appetite, a credible new narrative, and flows that follow the story. Market structure events, such as the way liquidity shifted after the March 12 BitMEX outage reshaped exchange dynamics, show how quickly positioning can move once conditions change.
The counter-case is equally important. Elevated security losses across the sector, underscored by a Blockaid report on crypto losses in the first half of 2026, and the still-forming regulatory landscape, including exchange moves into CFTC-regulated prediction markets, are the kind of frictions that could weaken the “crypto next” argument.
Treated as scenario analysis rather than a forecast, Visser’s thesis frames crypto as a conditional next trade. The opportunity depends on capital actually rotating out of a maturing AI theme and into digital assets, which remains uncertain on the evidence currently available.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
