Yi Lihua (JackYi) posted on November 14, saying that he had spoken with Justin Sun for nearly an hour the previous evening. Sun was bearish on the Nasdaq and $BTC , saying, “Selling all your AI stocks now might turn out to have been the high.” Yi himself had been waiting to buy the dip ever since getting out at the top at $86,000.
Sun’s reasoning centers on the AI industry chain: the leverage and subprime lending built up by companies such as Nvidia, driven by boundless optimism about the AI trend, have already far outpaced the growth in AI revenue for now. If a leading company runs into trouble, the entire chain could deleverage and see its bubble deflate, triggering a sharp correction in U.S. stocks—or, in a worse-case scenario, a financial crisis. No figures were provided to support this entire chain of reasoning.
What’s worth considering is not the conclusion, but the framework: linking the crypto downturn to the AI capital expenditure cycle goes beyond what on-chain data can explain. If this logic plays out, watching ETF inflows and outflows and funding rates probably won’t show where the risk is coming from.
#比特币 #孙宇晨 #AIbubble
Sun’s reasoning centers on the AI industry chain: the leverage and subprime lending built up by companies such as Nvidia, driven by boundless optimism about the AI trend, have already far outpaced the growth in AI revenue for now. If a leading company runs into trouble, the entire chain could deleverage and see its bubble deflate, triggering a sharp correction in U.S. stocks—or, in a worse-case scenario, a financial crisis. No figures were provided to support this entire chain of reasoning.
What’s worth considering is not the conclusion, but the framework: linking the crypto downturn to the AI capital expenditure cycle goes beyond what on-chain data can explain. If this logic plays out, watching ETF inflows and outflows and funding rates probably won’t show where the risk is coming from.
#比特币 #孙宇晨 #AIbubble