Jason Calacanis Urges Bitcoin Selloff, Forecasting Drop to $57,000 as Capital Shifts to AI

Angel investor Jason Calacanis has urged investors to sell Bitcoin and rotate capital into artificial intelligence, forecasting a drop to $57,000 over the next 12 months. Calacanis labeled Bitcoin a dead network, claiming it will never hit a new all-time high. The predicted target represents an approximate 28% decline from current levels near $79,600. Calacanis attributed his bearish outlook to softening demand and spot ETF outflows, which recently saw $774 million shed across two days before a $110 million single-day inflow. While divesting from Bitcoin, he maintains a holding in Bittensor (TAO).