A veteran technology investor is urging cryptocurrency holders to sell their Bitcoin (BTC) and redirect capital toward Super Intelligence initiatives.
Jason Calacanis posts on X that outflows from Bitcoin ETFs signal continued pressure on the flagship crypto asset.
Recent net outflows included $635.6 million on October 22 and $261.4 million on October 14, according to Farside data.
Says Calacanis,
“We will test the $57k low again in the next 12 months… Bitcoin will never break its all-time high again.”
He describes Bitcoin as offering “little to no value” beyond a store of value, noting that its viral hype around memes and non-fungible tokens (NFTs) has faded while AI delivers “unlimited upside for humanity.”
“The viral nature of Bitcoin was its power… if you didn’t own, you were MOCKED!
Now? Completely reasonable, heck, SMARTER, to ignore Bitcoin and place other bets…
Just sell and shift from Bitcoin to Super Intelligence because one provides little to no value, and the other provides unlimited upside for humanity.”
Calacanis also says he is “long TAO and love Bittensor’s focus on scaling AI.”
Bittensor is a decentralized, open-source blockchain network that creates a peer-to-peer marketplace for AI and machine learning models.
Meanwhile, Bitcoin firebrand Michael Saylor says the world needs both AI and BTC.
“AI creates abundance. Bitcoin enforces scarcity. One expands humanity’s ability to create value. The other lets us preserve and transfer it across time and space. Digital Intelligence and Digital Capital are complementary, Jason.”
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This post Tech Investor Who Nailed AI Boom Warns of Bitcoin Collapse, Urges Shift to Super Intelligence may be modified as updates unfold.
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