Jason Calacanis urges shift from bitcoin to AI as he sees crypto falling to $57,000

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Calacanis urges shift to AI

Highlights

Jason Calacanis predicts bitcoin could fall to $57,000 within a year, a 28% drop from its current trading level near $79,600.
Bitcoin ETFs saw net outflows of $774 million over Thursday and Friday, with minor inflows of $110 million on Monday, signaling weakening demand.
Calacanis remains invested in AI-linked tokens like TAO, favoring projects with computing and AI utility as investor interest shifts away from pure store-of-value assets.

Bitcoin demand concerns and price call

As reported by CoinDesk, Calacanis urged followers on Tuesday to sell bitcoin, saying the token is likely to revisit $57,000 within the next year and never set another record high. That implies a drop of about 28% from bitcoin's Tuesday trading level near $79,600, based on CoinDesk data.

Calacanis argues that bitcoin has "lost the crowd" that once made ownership feel almost mandatory for investors. In his view, fading enthusiasm, combined with money leaving bitcoin exchange-traded funds, signals weaker demand ahead.

He points to recent ETF withdrawals as another warning sign. According to Farside Investors data cited in the report, bitcoin funds lost about $774 million across Thursday and Friday, although Monday brought in $110 million.

AI-linked tokens remain part of portfolio

While Calacanis is negative on bitcoin, he still sees a role for digital tokens tied to artificial intelligence infrastructure. He disclosed that he holds TAO, the token behind Bittensor, a network that rewards participants for providing computing, storage and AI-related services.

His preference reflects a broader argument he has made since 2023, when he urged crypto founders to pivot toward artificial intelligence. In an April LinkedIn post, he said AI gives users an immediate practical use case, while crypto often still leaves ordinary people unclear about its real-world utility.

That stance suggests investor interest in the crypto sector may become more selective, favoring projects linked to computing demand and AI services rather than tokens that rely mainly on store-of-value narratives. For the digital asset market, the shift could deepen the divide between bitcoin and utility-focused networks if capital continues moving toward AI themes.

In our earlier coverage of the AI-linked tech selloff, we explained how hotter-than-expected inflation data revived rate-hike fears and drove a sharp pullback in Nasdaq-linked names. We also noted that investors were reassessing the rising cost of financing large-scale AI infrastructure, with bond yields and funding concerns weighing on companies tied to the build-out.

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