Macro investor Jordi Visser suggests the era of easy gains in AI stocks is concluding, potentially leading to a rotation of capital into Bitcoin, Ethereum, and the broader crypto market by 2026. He notes signs of this shift, including a crypto ecosystem index outperforming Bitcoin and Ethereum's recent outperformance of Bitcoin, indicating a market focus on revenue-generating crypto assets.
Jordi Visser, a prominent macro investor, declares the 'AI trade' as over in terms of generating extraordinary, effortless returns. This doesn't mean AI itself is finished, but rather that the market is entering a more discerning phase. He posits that this shift could lead to capital rotating into Bitcoin and Ethereum, and the broader crypto market, by 2026. This is significant because it suggests a potential macro-level reallocation of investment funds, impacting both high-flying AI stocks and the crypto sector. For traders, this presents a long-term opportunity in crypto, particularly Ethereum due to its revenue-generating potential, and a potential re-evaluation of AI stock valuations. The key risk for crypto is that this rotation doesn't materialize as expected, while for AI, it's the potential for a slowdown in growth and investor enthusiasm.