Angel investor Jason Calacanis advised Bitcoin holders to sell their assets and reallocate capital toward artificial intelligence. In a post on X dated October 27, 2026, he characterized Bitcoin as a dead network and predicted a price decline to its 2026 low of $57,000 within the next 12 months.
Calacanis stated that he believes Bitcoin will not reach a new all-time high again. He linked his price target to ongoing outflows from spot Bitcoin exchange-traded funds, although reports noted a simultaneous $110 million inflow into these products.
The investor continues to hold TAO, the native token of the Bittensor network. He views this position as an investment in AI infrastructure rather than a traditional crypto asset, citing the network's incentive structure for computing power and storage as the primary driver for his decision.
This stance aligns with his 2023 recommendation to crypto founders to pivot toward building AI companies. Calacanis argues that the potential for value creation in AI and super intelligence now exceeds the utility of Bitcoin as a store of value.
