Jordi Visser: Cryptocurrencies May Outperform AI Stocks

Cryptocurrencies may offer better returns from the artificial intelligence boom than AI company stocks, according to Visser Labs founder Jordi Visser. In an interview with Cointelegraph, he said that the explosive growth of AI stocks is harder to replicate, while AI agents create demand for payments in cryptocurrencies and tokenized assets. "Without AI, cryptocurrencies would not be experiencing this bull market," he says.

Visser was Managing Director at Morgan Stanley and Chief Investment Officer at Weiss Multi-Strategy Advisers, and now leads AI Macro Nexus research at 22V. His thesis: AI agents will allow software to handle trades and financial operations. "AI agents for cryptocurrencies are like the App Store or smartphone," he says.

However, Visser's forecast depends on the AI theme, about which he has become more cautious. A serious downturn in AI, which could drag down stock markets, he calls a threat to the scenario. "I don't think it will end the bull market, but it will definitely test recent lows," he says.

Visser began reducing his position in Micron in mid-May, deciding that hedge funds and retail had overcrowded the AI trade. An index of 100 AI stocks has risen about 40% this year, but on a 126-day window has become more volatile than Bitcoin. Oracle spent $55.7 billion in capital expenditures in the 2026 fiscal year against $32 billion in operating cash flow and raised $43 billion in debt. "I didn't say AI is over. The AI fireworks are over," Visser says: he expects growth in demand for computing for several more years but advises tempering expectations for stock returns.

Until August, his crypto investments consisted only of Bitcoin, Ethereum, and Solana. Bitcoin remains the largest position, but now he is buying a broader set of tokens. Dogecoin, for him, is a signal of the return of retail enthusiasm. He holds an equally weighted index of 42 tokens and four stocks, which has outperformed Bitcoin since June. A separate theme is privacy: Visser believes AI will enhance the importance of identity protection and names Zcash and Monero among suitable projects.