Bitcoin’s Next Stop Could Be $57K, Says Investor Who Spotted AI Shift

Jason Calacanis is urging Bitcoin investors to reconsider their holdings and shift toward artificial intelligence, predicting that BTC could drop to $57,000 over the next 12 months. The technology investor, who encouraged crypto startups to embrace AI in 2023, also claims Bitcoin may never set another all-time high.

Calacanis issued the forecast on Tuesday, when Bitcoin was trading near $79,600, according to CoinDesk data. His $57,000 target represents a potential decline of roughly 28%.

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

He argued that Bitcoin has lost the widespread appeal that once made owning it seem essential. In his view, investors now have more opportunities to deploy capital elsewhere, particularly in AI, which he believes offers more practical uses and stronger growth prospects.

“Just sell and shift from Bitcoin to Super Intelligence,” Calacanis added.

Bitcoin ETF Outflows Raise Demand Concerns

Calacanis pointed to recent withdrawals from spot Bitcoin exchange-traded funds as a sign that selling pressure could persist.

Farside Investors data showed that spot Bitcoin ETFs recorded approximately $774 million in combined outflows on Thursday and Friday. The funds attracted around $110 million on Monday, partially reversing the previous withdrawals.

Nevertheless, Calacanis believes the broader trend raises questions about Bitcoin’s ability to attract new buyers. He argues that fading enthusiasm, ETF outflows, and growing investment in AI could weaken demand for the cryptocurrency.

Bitcoin’s investment narrative has long centered on its fixed supply and the prospect of increasing demand. Calacanis believes that proposition is becoming less compelling as investors direct more capital toward emerging technologies.

TAO Remains a Bet on AI Infrastructure

Despite his criticism of Bitcoin, Calacanis continues to hold cryptocurrency tied to artificial intelligence. He has disclosed an investment in TAO, the native token of Bittensor, a decentralized network that rewards participants for providing AI-related services.

Bittensor incentivizes contributors to supply computing power, AI-generated responses, data storage, and other digital services. Its token-based model encourages participants to compete in developing useful AI infrastructure.

Calacanis explained his interest in the project in an April LinkedIn post, contrasting the unclear real-world applications of many crypto projects with the immediate utility of AI tools.

He later reiterated his support for the network, writing: “I am long $TAO and love bittensor’s focus on scaling AI.”

His investment approach reflects a preference for crypto projects connected to practical technology rather than Bitcoin’s primary role as a store of value. While he expects BTC to face additional downside, he sees AI-focused networks such as Bittensor as potential beneficiaries of the expanding artificial intelligence sector.