Veteran Macro Investor Says AI’s Easy Money Is Over and Bitcoin Is Next
Regular investors are pulling back too. Trading activity this month is more than 3% below the five-year average.
Computer-driven funds are the bigger worry. They hold about $196 billion in US shares. A further slide could force them to sell $15.7 billion inside a week.
The wider mood is nervous. The Federal Reserve held rates steady in a 9 to 3 vote. The Dow then fell 1,153 points, its worst day since April 2025.
Long-term borrowing costs jumped as well. The 30-year Treasury closed at 5.20%, its highest level since 2007.
Why Bitcoin and Ethereum Could Benefit
Visser expects AI programs to start moving money on their own. Blockchains are where that would happen.
He does not think Bitcoin leads the way, though. He expects Ethereum to do better, because investors now prefer networks that earn fees.
The past month backs him up. Ethereum (ETH) trades near $1,921 and is up 23.3% in 30 days. Bitcoin trades near $64,793 and is up 10.9%.
Zoom out and the picture flips. Over a year, Bitcoin is down 45% and Ethereum 49%.ETH also sits 61% below its 2025 peak. Bitcoin's current price is 49% below its own record.
So this is a one-month shift, not proof of a new cycle. It matches three bullish Ethereum signals spotted this week, and not much more.
What to Watch Over the Next 30 Days
Visser is waiting on one law. The CLARITY Act would finally decide which US regulator watches which crypto asset.
Traders doubt it passes. Polymarket puts the odds near 30%, and seven roadblocks remain in the Senate.
Rates are the other question. Morgan Stanley economist Mike Gapen expects inflation to ease to about 3.3% by December. That would keep the Fed still. Three officials already wanted a rise.
Then there are buybacks. Goldman expects 90% of big US companies to be free to buy their own shares by mid-August.
Visser needs a law and a buyer. Whichever shows up first will tell us more than any earnings call did.
Read the Original story Veteran Macro Investor Says AI's Easy Money Is Over and Bitcoin Is Next by Lockridge Okoth at beincrypto.com
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