Bitcoin (CRYPTO: BTC) is decoupling from software stocks as inflation heads above 4%, setting up the negative real yields that historically send the token higher.
The Inflation Setup
Jordi Visser, a veteran macro investor with 30-plus years of experience, told Anthony Pompliano on an episode of Pompliano’s podcast on Saturday that service and manufacturing PMIs hit their highest levels since 2022 last week.
Manufacturing bottlenecks are spreading from memory to CPUs to chemicals because of AI buildouts and Iran War disruptions.
“There is really no doubt in my mind that inflation is going higher,” Visser said.
“Headline CPI is the one that I have confidence in will be above 4% as we keep getting this data,” he added.
He clarified that traditional inflation beneficiaries like housing and wages won’t improve. Instead, commodity prices, memory chips, CPUs, and semiconductors are driving the move with …