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 token of Bittensor.

Bittensor is a network that pays participants for supplying computing power, storage and other services used to build AI. Contributors provide the raw materials that AI development needs, and the network rewards them in TAO.

That incentive structure is the reason Calacanis gave for holding on. In his framing, TAO is not really a bet on crypto as a monetary asset. It is a bet on AI infrastructure that happens to use a token to coordinate who does the work and who gets paid.

He has made this pitch before

This is not a sudden conversion. In 2023, Calacanis told crypto founders to pivot toward artificial intelligence.

At the time, that advice was aimed at builders: stop launching crypto projects and start building AI companies. The 2026 version is aimed at investors and comes with a specific price target attached.

The ETF flow picture is not one-directional

Calacanis’s thesis leans heavily on ETF outflows. The flow data has been more mixed than a straight exodus, though.

Spot Bitcoin ETF flows have moved in both directions, and his comments reportedly landed alongside a $110 million inflow into those products.

What this means for investors

The first thing to weigh is the nature of the call. This is one investor’s opinion, delivered on social media, with a 12-month window and a specific number. The $57,000 figure is also notable because it is not a new low. It is a return to a level Bitcoin already touched earlier in 2026, which makes the call a retest scenario rather than a collapse scenario.

The second point is that the “never another all-time high” claim is far bolder than the price target. Saying the asset will never set a new record is a structural argument, and it puts Calacanis firmly against the long-held belief among holders that each cycle eventually brings fresh peaks.

The signals worth tracking are straightforward. Watch daily spot Bitcoin ETF flows to see whether the outflow trend he described persists or whether inflows like the reported $110 million become the norm. Watch whether AI-linked tokens such as TAO keep drawing capital that might otherwise have gone to Bitcoin. And watch the $57,000 level itself, since a return there within his 12-month window would turn his post from a provocation into a forecast that people have to take seriously.