Jordi Visser Says Michael Saylor Saw It First: Bitcoin Is The Only AI Trade AI Can't Destroy

In an interview with Mark Moss, Visser pointed out that chip makers still need to stay ahead of the technology game, similar to Nvidia, while Bitcoin gains value from its limited supply.

• Michael Saylor was one of the first to realize that Bitcoin was the only AI-related investment whose value cannot be eaten away by AI, Jordi Visser said.
• He said AI would increasingly destroy competitive advantages and force more disrupted companies to adopt Bitcoin as a treasury asset, in the playbook of Strategy.
• He also cited the growing costs Alphabet pays for AI infrastructure as proof that even Big Tech is under more competitive and cost pressure than Bitcoin.

Strategy (MSTR) Executive Chairman Michael Saylor was the first to recognize that Bitcoin (BTC) was the only AI trade that artificial intelligence could not kill, according to Wall Street veteran Jordi Visser.

Visser, the chief investment officer at 22V Research, said in an interview with Mark Moss on Tuesday that Saylor saw years ago that his software company could not out-compete Big Tech in a zero-interest-rate environment. Rather than hold cash earning nothing, Saylor moved the company’s balance sheet into Bitcoin, he noted. Visser added that he expects more AI-disrupted companies to eventually make the same choice, following the model Saylor's Strategy set.

“I realized that this would be the end game is Michael Saylor's already had to make that choice, and he's he's going to be the person who made the choice first. There will never be any company that owns as much Bitcoin as Michael Saylor does, so he made the choice back then,” said Visser.

MSTR’s price traded flat in midday hours on Wednesday. On Stocktwits, retail sentiment around MSTR remained in the ‘bearish’ zone, accompanied by ‘low’ chatter levels over the past day.

Scarcity Protects Bitcoin From AI Disruption

AI destroys competitive “moats” and allows the near-instant replication of products and business models,” according to the Wall Street veteran. As a result, markets eventually stop pricing in growth beyond a few years and compress even dominant companies down to low, “cyclical” multiples, the same fate that has long applied to gold miners. Bitcoin avoids that dynamic, he argued, because it's valued for fixed scarcity rather than a competitive edge that AI can copy away.

Bitcoin’s price was up over 1% during the past 24 hours. On Stocktwits, the retail sentiment around BTC remained in the ‘bearish’ zone, while chatter around it stayed at ‘low’ levels over the past day.

Why Bitcoin Is Different From AI Stocks

Visser likened his thesis to Nvidia (NVDA), the stock most investors think of when they consider “the AI trade.” He said the value of Nvidia was still about maintaining a competitive moat, and the rate of innovation in AI could eventually erode that. This was different from Bitcoin, which has a fixed supply, no matter who wins the AI race, Visser argued.

He made a similar argument about Google (GOOG). Visser pointed to Alphabet’s swing to roughly negative $5.9 billion in free cash flow in the second quarter as evidence of how capital-intensive and financially exposed even the biggest AI players have become as they compete to build out infrastructure, a contrast, he said, to Bitcoin’s fixed and unchangeable supply.

Visser's argument lands amid a selloff in AI-linked chip stocks. Intel (INTC), AMD (AMD), Micron (MU), and other semiconductor names have tumbled repeatedly over the past few days, with concerns over AI spending sustainability and rising competition stalling what had briefly looked like a rebound. 

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