Jason Calacanis tells followers to sell bitcoin, predicts a return to $57,000
In brief
- Jason Calacanis urged followers on Tuesday to sell bitcoin, according to CoinDesk.
- Calacanis predicted bitcoin would revisit $57,000 within 12 months and never set another record.
- The $57,000 target sits about 28% below Tuesday's price near $79,600, per CoinDesk data.
- Bitcoin ETFs lost about $774 million Thursday and Friday, then took in $110 million Monday.
- Calacanis disclosed on X that he is long TAO, the token behind Bittensor.
The $57,000 call
Bitcoin traded near $79,600 on Tuesday, according to CoinDesk data, which puts Calacanis's target about 28% lower. That's a wide gap. (It's his forecast, made on X, and not a view this publication shares or endorses.)
His case rests on crowd behavior more than on charts. Calacanis said bitcoin had lost the crowd that once made owning it feel compulsory, and he pointed to withdrawals from bitcoin exchange-traded funds as a warning that more selling would follow. He wrote that ETF outflows are a signal, that they'll continue, and that bitcoin will test the 57k low again in the next 12 months.
"Why put your resources into a dead network that offers nothing beyond a store of value?" (Jason Calacanis, on X)
What the ETF flows show
Bitcoin ETFs lost about $774 million across Thursday and Friday, according to Farside Investors figures cited by CoinDesk. Monday brought $110 million of inflows.
So the flows haven't moved in one direction.
Calacanis's view also runs counter to the trade bitcoin has leaned on for years, where a fixed supply meets a steadily growing crowd of buyers. His argument is that the second half of that equation is breaking down, and he's using the ETF numbers as his evidence.
The TAO position
Calacanis disclosed a stake in TAO, the token behind the Bittensor network, saying on X that he's long $TAO. Bittensor pays participants for providing services such as computing, AI responses and storage, with separate groups competing to produce useful results.
None of this is new territory for him. In an April LinkedIn post, Calacanis argued crypto left ordinary people wondering what to do with it, while AI was immediately useful (he said Bittensor stood out because its token rewards encourage people to build those services). It's a disclosed position, and it lines up with the AI pivot he's been arguing for since 2023.
Frequently asked questions
What did Jason Calacanis predict for bitcoin?
Calacanis predicted on X that bitcoin would revisit $57,000 within the next 12 months and never reach another record high, according to CoinDesk. That level is about 28% below where bitcoin traded on Tuesday, near $79,600, per CoinDesk data. The forecast is his own opinion.
Why does Calacanis think bitcoin will fall?
He said bitcoin had lost the crowd that once made owning it feel compulsory, and pointed to withdrawals from bitcoin ETFs as a warning that more selling would follow. Farside Investors data cited by CoinDesk shows about $774 million left the funds Thursday and Friday, though Monday brought $110 million of inflows.
What is Bittensor and what is Calacanis's TAO position?
Bittensor is a network that pays participants for providing services such as computing, AI responses and storage, with separate groups competing to produce useful results. TAO is its token. Calacanis disclosed a stake in TAO on X.
