Investor Who Called the AI Boom Predicts a Bitcoin Crash

Three years ago, Jason Calacanis told crypto founders to abandon their industry for AI stocks. Now, the prominent Silicon Valley investor has another warning: sell Bitcoin before it crashes again. Calacanis predicted on Tuesday that Bitcoin would fall to $57,000 within 12 months, nearly 29% below its $79,774 price at the time. He went further, claiming Bitcoin would never reach another all-time high. A brutal year for Bitcoin is just getting started, he wrote. Bitcoin (BTC) Price Performance. Source: TradingView His AI Prediction Was Spot On Calacanis has a reputation for spotting technology trends early. He backed Uber and Robinhood before they became household names and co-hosts the influential All-In podcast. His June 2023 advice to pivot to AI proved well-timed. An investment of $10,000 in Nvidia that day would now be worth approximately $56,100. Bitcoin would have returned around $30,100. Yet his record deserves context. Semiconductor stocks broadly performed similarly to Bitcoin over that period. Calacanis also recommended buying Bitcoin directly in September 2025. Does the Market Support His $57,000 Warning? Calacanis believes Bitcoin is losing investor interest while AI offers greater economic value. Just sell and shift from Bitcoin to Super Intelligence, he argued, describing Bitcoin as a dead network. There are reasons for concern. Bitcoin has fallen roughly 37% from its October 2025 peak near $126,200. US spot Bitcoin ETFs also lost approximately $773 million on October 2223. Glassnode estimates that these funds purchased their holdings at an average price near $81,500, leaving them under pressure at current levels. However, ETF inflows recovered by approximately $110 million on October 26. The data has yet to establish sustained institutional selling. Bitcoin ETF Flows. Source: SoSoValue Are AI Stocks Replacing Bitcoin? The performance gap is striking. Over the past year, semiconductor stocks gained roughly 62% while Bitcoin lost 30%. Yet Bitcoin remains positively correlated with technology stocks. Its 90-day correlation with the Nasdaq stood at 0.38 through October 25, suggesting both can fall when investors retreat from risk. Even Calacaniss own AI-linked cryptocurrency investment, Bittensor (TAO), has fallen approximately 40% over the past year. Bitcoin and iShares Semiconductor ETF (SOXX) Performance. Source: TradingView Meanwhile, Galaxy Digitals Alex Thorn believes Bitcoin bottomed in June and could recover toward $125,000 as long-term selling eases. His bullish outlook would weaken if Bitcoin stayed below roughly $76,540. That makes the coming weeks critical for judging whether Calacaniss crash prediction has substance. Read the article at BeInCrypto