Jason Calacanis Says Bitcoin (BTC) Will Revisit $57,000 Within 12 Months

Calacanis Sets a $57,000 Target

Technology investor Jason Calacanis told Bitcoin (BTC) holders to sell on Tuesday, calling for the asset to revisit $57,000 within the next 12 months and never set another record high. The Bitcoin price traded near $79,600 when the call landed, which puts his target roughly 28% below the market. Calacanis, a venture capitalist and podcast host who pushed crypto founders to pivot into artificial intelligence in 2023, framed the move as the start of a deeper bear market rather than another routine dip in the Bitcoin market. “A brutal year for Bitcoin is just getting started,” he wrote in a post on X, warning that withdrawals from exchange-traded funds “are signal and will continue” and that the market would “test the 57k low again” inside a year. In his telling, the asset has “lost the crowd” that once made owning it feel compulsory: investors can now step away from it without being mocked, while artificial intelligence offers more useful destinations for capital. “Why put your resources into a dead network that offers nothing beyond a store of value?” he asked, closing with a direct instruction to followers: “Just sell and shift from Bitcoin (BTC) to Super Intelligence.” The network itself, the original proof of work chain with its 21 million supply cap, is unchanged; what has shifted, in his view, is the marginal buyer, who no longer feels pressure to own the asset and would rather fund the computing buildout behind AI. That argument runs against the trade bitcoin has leaned on for years, a fixed supply meeting a steadily growing crowd of buyers, and his post ties it to a 12-month deadline that makes the forecast testable.

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ETF Flows and a TAO Stake

The flows behind his warning are documented, though they cut both ways. Flow data shows US spot bitcoin exchange-traded funds lost about $774 million across Thursday and Friday, 2026-10-22 and 2026-10-23, before Monday brought $110 million back in net, a rebound our related coverage logged $110 million in net inflows for 2026-10-26. The Monday rebound complicates the bearish read: a market that absorbed $110 million in a single session still has buyers, even if the two-day total dwarfed it. Calacanis treats the drawdown as confirmation that more selling is queued, and separate order-flow coverage tracked spot selling pressure deepening alongside the outflows. His own portfolio tells a different story about where he thinks the money should go. He disclosed a stake in TAO, the token behind Bittensor, a network that pays participants for supplying computing, AI responses and storage, with separate groups competing to produce useful results. The design ties token demand to real computing work rather than to speculation, which is precisely the utility he finds missing elsewhere. In an April LinkedIn post he argued that crypto leaves ordinary users with nothing practical to do, while AI hands them something useful immediately, and that Bittensor's token rewards push people to build those services. In a follow-up on X he confirmed he is long TAO and likes the network's focus on scaling AI. The position explains the logic of his sell call: he is not arguing tokens are finished, he is arguing capital should move out of a network he calls idle and into one that pays for AI workloads. That framing is also a direct challenge to bitcoin maximalism, the conviction that bitcoin's fixed supply alone justifies holding it above every other crypto asset. Whether that rotation happens at scale is unproven; the disclosure covers his own stake, not an industry trend.

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Confirmed he is long TAO.

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A Testable 12-Month Claim

The number matters less than its frame. From a market near $79,600, the $57,000 target implies about 28% downside, and it is measured against a prior low he expects to be revisited, not a floor invented for the occasion. Three variables will decide whether the call ages well. The first is ETF demand, where Monday's $110 million inflow shows the channel has not closed even after a $774 million two-day bleed. The second is holding behavior: the supply argument he dismisses depends on whether long-term holders keep their HODL posture through the drawdown he predicts. The third is the clock, because a 12-month window starting from roughly $79,600 either produces a $57,000 test or it does not, and that measurable claim is what his $57,000 call should be judged against.