Investor who called for AI pivot in 2023 says bitcoin is going to $57,000

Jason Calacanis told crypto founders to pivot to artificial intelligence in 2023. Now he wants bitcoin BTC$84,459.46 holders to move their money there too.

The technology investor and podcast host urged followers to sell bitcoin on Tuesday, predicting it would revisit $57,000 within the next 12 months and never reach another record high. That’s about 28% below where bitcoin traded on Tuesday, near $79,600, according to CoinDesk data.

“Why put your resources into a dead network that offers nothing beyond a store of value?” he wrote on X.

He said bitcoin had “lost the crowd” that once made owning it feel compulsory. Investors could now ignore it without being mocked, while AI offered more useful places to put their money.

“Just sell and shift from Bitcoin to Super Intelligence,” he wrote.

He pointed to withdrawals from bitcoin exchange-traded funds as a warning that more selling would follow. Those funds lost about $774 million across Thursday and Friday, according to Farside Investors, although Monday brought $110 million back in.

Calacanis is questioning where bitcoin’s next buyer comes from. The pressure to own it has faded, ETF investors are pulling money out, and AI is soaking up the excitement. That runs counter to the trade bitcoin has leaned on for years: a fixed supply meeting a steadily growing crowd of buyers.

Tokens still have a place in his own portfolio, meanwhile, as long as they pay people to build AI. He disclosed a stake in TAO, the token behind Bittensor, a network that pays participants for providing services such as computing, AI responses and storage, with separate groups competing to produce useful results.

The attraction was laid out in a LinkedIn post in April. Crypto still left ordinary people wondering what they could actually do with it, while AI gave them something useful immediately. Bittensor stood out because its token rewards encourage people to build those services.

“I am long $TAO and love bittensor’s focus on scaling AI,” he wrote in a follow-up.