Pierre Rochard

Responding to Mark Cuban's 'chips are the new crypto' view, Pierre agrees chips have short-term scarcity from AI capex bottlenecks but argues they are long-term abundant because high prices attract new capacity, chip manufacturing has no real limiting factor, and chips are made of sand. Past capex cycles such as railroads, fiber, and dotcom show overbuilding and overcapacity. Bitcoin has the opposite dynamic: its new supply will be cut in half again, making Bitcoin's scarcity clearer and increasing its purchasing power against abundant AI/chip capacity.