From the Desk of Anthony Pompliano The Great Rotation Is CRUSHING Software and Bitcoin
13 snips
Feb 26, 2026 
Nick Shirley, investigative content creator who exposes government fraud and documents corruption. He talks about the massive sell-off in software and why AI is reshaping SaaS. He explores the surprising link tying Bitcoin to software stock flows. He shares frontline stories of uncovering fraud, confrontations in the field, and how his on-the-ground reporting prompts government action.
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Bitcoin Behaves Like A Levered Tech Bet
- Bitcoin is trading like a high-beta software stock due to shared institutional flows since spot ETFs launched in early 2024.
- Institutional portfolios sold software and Bitcoin together during the AI-driven SaaSpocalypse, producing a 30-day BTC-IGV correlation near 0.73.
AI Agents Triggered A $1 Trillion SaaS Repricing
- The SaaSpocalypse wiped out roughly $1 trillion from software market caps as AI agent hype threatens per-seat SaaS pricing.
- Despite 100% profit beats and 80% revenue beats, forward multiples compressed from ~39x to ~21x amid rotation to AI infrastructure.
Don't Conflate Hype With Actual Business Collapse
- Avoid assuming the sell-off reflects immediate terminal decline; consider the sticky revenue and record earnings of incumbents like ServiceNow and AppLovin.
- Treat current valuations as a potential entry point if fundamentals remain intact.