SpaceX's $2 Trillion Hardware Moat Is Basically A Knicks NFT, Says Wall Street Veteran

Without blockchain, Visser warned, "there'll be 24 million” of Knicks tickers sold at “whatever price" - making crypto the only verification layer that matters in an unreliable world.

• Jordi Visser said SpaceX's true edge is its rocket launch monopoly, arguing no software-first competitor can replicate its hardware moat.
• Visser said SpaceX secured AI compute deals with both Anthropic and Google through its Colossus data center.
• He argued that Knicks game four commemorative tickets selling for $300-$450 on eBay would be instantly flooded with fakes without blockchain.

Veteran investor Jordi Visser said on Saturday that SpaceX's (SPCX) rocket monopoly and a Knicks commemorative ticket tell the same story - in the world of artificial intelligence (AI), the real and scarce win.

Speaking on the Pomp Podcast, Visser, who has 30 years of experience on Wall Street and is Head of AI Macro Nexus Research at 22V Research, argued that SpaceX's true edge had nothing to do with its $2 trillion valuation, but rather the scarcity of rockets.

"Elon is the master of engineering," he said, pointing to the Colossus data center, built in just 122 days, as evidence that SpaceX has quietly entered the AI infrastructure race alongside Amazon (AMZN), Microsoft (MSFT), and Google (GOOGL) as the fourth largest hyperscaler.

At the core of his bull case is a simpler point. "He has a monopoly on rocket launches," Visser said. "Can Google do that? They don't have the rocket ships to do that." 

In a market where software moats are increasingly hard to sustain, he argued SpaceX's hardware infrastructure cannot be replicated by writing better code. 

The Knicks Ticket That Can't Be Faked

The same logic, Visser said, applies to a Knicks commemorative ticket.

After attending game four of the NBA Finals, he noted that the physical tickets handed out to fans were already selling on eBay for $300 to $450 by the next morning, but without blockchain verification, he warned that fakes would flood the market instantly. "There'll be 24 million of them sold at whatever price," he said.

His solution is the same for both problems: blockchain. 

A non-fungible token (NFT) tied to game four attendance would prove you were there and preserve scarcity permanently. "The world is filled with AI slop, and it's only going to get worse," Visser said. "I fundamentally believe the blockchain and crypto is critical to all this stuff."

Visser has previously argued that Bitcoin (BTC) is emerging as a critical scarcity asset in the AI era, with the potential to reach 3% to 5% allocations in client portfolios as AI-driven shortages in compute and infrastructure reshape how investors think about value.

Bitcoin’s price was up over 0.6% during the past 24 hours. On Stocktwits, the retail sentiment around BTC moved to the ‘bullish’ from ‘neutral’ zone, while chatter around it shifted to ‘low’ from 'normal’ levels over the past day.

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