Real Vision: Finance & Investing · Real Vision Podcast Network

Drinks With Real Vision: Andreas Steno & Mikkel Rosenvold

·1 hr 2 min·1 clip

He's now moved the goalpost from 12 months to one to five years.

The format starts as a first-time run on Real Vision. Mikko Rosenvall brings Andreas Steno into Drinks with Real Vision and makes clear this is not the regular free Monday macro show in a cleaner shirt. The mood is loose on purpose, though Andreas does push back a little on the idea that their macro work is always deadly serious. He jokes about insults, a Jesus shirt, saved bags, and a Polymarket setup he says still carries a 4% risk-free rate. So, yes, the thing wanders. Copenhagen restaurant tips show up. Banana talk gets a careful non-answer. Two market people go off-script and enjoy the room. Then the market thread comes back. Fugazi1990 asks for a view on the total crypto market and where crypto could go this year. Andreas answers through a software lens. He says they had already planned to talk about whether crypto belongs in the same basket as mid-cap software-as-a-service names after a breakfast conversation with a software person. The analogy is simple enough without overselling it. If a blockchain charges people fees to use code, Andreas argues, it starts to look like software as a service. He does not pretend the comparison is tidy. He flags the infrastructure gap and says there are angles around it, which keeps the take from turning into a slogan. Still, he likes the setup. The sharper question is whether fee-bearing chains are better built for AI, disinflation, margin pressure, and smaller transaction sizes than some familiar software businesses. He points to smaller companies, smaller average transactions, agent activity on chains, and microtransactions, with Solana named as a chain designed for lots of tiny transactions. No victory lap. The claim stays conditional: crypto may trade like software as a service for now, until an agentic on-chain economy starts showing up in growth results.

As heard by us

A looser Real Vision chat that still lands on crypto, AI, and software economics.

Real Vision uses this first-time Drinks with format for a looser, more conversational macro-and-crypto session, with Mikko Rosenvall and Andreas Steno leaning more toward trading jokes than polish.

Read the full review in PlayNext →

Why you'd press play

You want macro banter that still gets into crypto, fees, and microtransactions.

Read the full recommendation in PlayNext →

Listen to the show on

Apple Podcasts Spotify

Play clips from this episode More from Real Vision: Finance & Investing