Jason Calacanis, host of the All-In Podcast and an early investor in Uber (UBER) and Robinhood (HOOD), has made a new post about Bitcoin and the altcoin Bittensor (TAO). According to Calacanis, he recommends selling BTC and investing in artificial intelligence, while also stating that he himself is in a long position on TAO.
Warning of a Bitcoin Decline!
Jason Calacanis made a very critical prediction for Bitcoin. The renowned analyst argued that BTC will never surpass its all-time high again, but suggested that the price could retest the $57,000 2026 low within the next 12 months.
Calacanis also stated that Bitcoin is only at the beginning of a challenging period and that investors should look to alternative areas.
From Bitcoin to Artificial Intelligence!
Calacanis’s predictions and criticisms of Bitcoin center on its use cases. He considers Bitcoin to be primarily limited to its function as a store of value, making it less economically productive. According to him, a significant portion of technological development and future growth potential is shifting towards artificial intelligence.
Calacanis therefore argues that investors should turn to artificial intelligence technologies and projects in this field instead of Bitcoin.
Highlighting Bittensor!
Despite his criticisms of Bitcoin, Calacanis adds that he hasn’t completely distanced himself from the crypto market. He states that he holds a long position in Bittensor, indicating his support for the project’s approach to scaling artificial intelligence.
*This is not investment advice.
Continue Reading: Famous US Investor Says “Bitcoin (BTC) Will Never Reach All-Time High Again” Points to a Surprise Altcoin!