CoinDesk
Technology investor Jason Calacanis urged investors to sell Bitcoin and shift toward artificial intelligence, predicting BTC will revisit $57,000 within 12 months and never set another record high. The target was about 28% below Bitcoin's Tuesday price near $79,600, as reported by CoinDesk data. He also disclosed that he remains invested in TAO, the token behind the Bittensor network.
Why it matters
Calacanis's case combines weakening market demand with a competing investment narrative. He said Bitcoin had “lost the crowd” that once made ownership feel compulsory, while AI offered more tangible uses for capital. Bitcoin ETF outflows support his concern: the funds lost about $774 million across Thursday and Friday, before receiving $110 million back on Monday, according to Farside Investors.
His preference is not purely anti-crypto. Calacanis remains long TAO because Bittensor rewards participants for providing computing, storage and AI responses. His portfolio view therefore favors crypto infrastructure tied to AI demand over Bitcoin's role as a store of value.
Market impact
A move to $57,000 would require a further 28% decline from Tuesday's price, placing emphasis on ETF flows and the arrival of marginal buyers. The broader signal is a contest for capital: Bitcoin must defend its scarcity and adoption narrative while AI attracts attention with immediately useful applications.
Calacanis's forecast is an investor opinion rather than a market forecast, but his disclosed TAO position makes it more than a general critique of Bitcoin. It also illustrates how conviction is moving within crypto, away from a single flagship asset and toward networks that reward AI infrastructure and participation.
Frequently asked questions
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Why does Jason Calacanis expect Bitcoin to fall to $57,000?
He cites waning investor enthusiasm, Bitcoin ETF outflows and fading social pressure to own BTC. His $57,000 target was about 28% below Bitcoin's Tuesday price near $79,600.
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What Bitcoin ETF flows supported Calacanis's bearish call?
Bitcoin ETFs lost about $774 million across Thursday and Friday, according to Farside Investors. Monday brought $110 million of inflows, but he expects more selling to follow.
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Is Jason Calacanis bearish on every cryptocurrency?
No. He disclosed that he remains invested in TAO, the token behind Bittensor, because the network rewards participants providing computing, storage and AI-related services.
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Why does Calacanis favor Bittensor over Bitcoin?
He argues Bittensor has practical utility within AI infrastructure, while Bitcoin primarily offers store-of-value exposure. His preference reflects a shift toward networks with immediately usable applications.
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What would invalidate the $57,000 Bitcoin forecast?
A reversal in ETF withdrawals or a return of marginal buyers would challenge the bearish setup. Calacanis's forecast also depends on capital continuing to rotate toward AI-linked assets.
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