Jason Calacanis tells investors to sell Bitcoin, predicts a slide to $57,000

Jason Calacanis has a portfolio suggestion for Bitcoin holders: sell, and put the money into artificial intelligence. The angel investor made the case in a post on X on October 27, 2026. He called Bitcoin a “dead network” and said it could fall back to its 2026 low of $57,000 within the next 12 months. He went further than a short-term bearish call. Calacanis said he believes Bitcoin will never again reach its all-time high. What Calacanis actually said The argument has two parts: a price forecast and a capital allocation thesis. On price, Calacanis tied his $57,000 target to continued outflows from Bitcoin exchange-traded funds. On allocation, his view is that Bitcoin’s main job as a store of value is now dwarfed by the opportunity in AI and what he called “super intelligence.” He argued that the higher value creation in those sectors explains why capital is moving away from Bitcoin. The “dead network” label is the most provocative part. He used it to describe Bitcoin as an asset with diminished vitality, rather than making any claim that the network has stopped working. Why TAO gets a pass Calacanis did not leave crypto entirely. He said he remains invested in TAO, the native tok...