Macro Investor Predicts Inflation Surge, Bitcoin as Portfolio Winner

In a recent chat with Anthony Pompliano, macro investor Jordi Visser—who runs Jordi Visser Labs—declared with the certainty of someone who has seen too many rate hike cycles that consumer inflation will punch above 4% within the next three months. The 30-year market veteran insists Bitcoin stands to gain from what he calls unprecedented "double pressure" on the global economy, essentially a financial perfect storm where everyone's purchasing power takes a hit simultaneously.

Visser points to manufacturing and services Purchasing Managers Index data reaching their highest levels since 2022 as evidence that inflation isn't going quietly into the night like markets currently expect. He identifies the commodity bull market and persistent logistics bottlenecks as continuing drivers that will push prices higher in the near term—because apparently, supply chains still haven't recovered from that one time everyone panic-bought toilet paper in 2020.

The investor draws a stark contrast between inflationary pressures and the deflationary wave he sees coming from artificial intelligence. Visser attributes the decline in software and SaaS stocks to the "margin narrowing" created by AI, quoting Jeff Bezos's famous observation that "your profit margin is my opportunity." As AI reduces software production costs toward zero, Visser argues that terminal value no longer exists in code-based businesses, describing this as a "deflationary disaster" for traditional software companies—essentially, when your product can be replicated infinitely for almost nothing, shareholders tend to get nervous.

In the middle of these opposing forces, Visser positions Bitcoin as the clear portfolio winner. As global liquidity increases and negative real interest rates become permanent, BTC gains value as the most vulnerable growth asset. Unlike software stocks losing ground to AI, Bitcoin derives value from "rarity" rather than code. Visser notes that portfolio management has entered an era of what he calls "scarcity capitalism." Looking ahead, Visser has identified five key investment themes: semiconductors, power equipment, chemicals, physical servers, and Bitcoin. He predicts that within the next 20 years, artificial intelligence will challenge both capitalism and the fiat currency system as we know it. In that coming "world of abundance," Visser believes the only truly rare asset capable of being exchanged will be Bitcoin—because apparently, even in a future where robots do everything, humans will still argue about digital rock paper.