Three years ago, Jason Calacanis recommended that crypto founders leave the sector and focus on AI stocks. Now, the well-known Silicon Valley investor is issuing another warning: sell Bitcoin before the asset suffers another drop.
On Tuesday, Calacanis predicted that Bitcoin would fall to $57,000 within 12 months, about 29% below its price of $79,774 at the time.
He went further, saying that Bitcoin would never reach another all-time high.
…A difficult year for Bitcoin is only just beginning…, he wrote.
His prediction about AI was spot-on
Calacanis is known for identifying technology trends early. He invested in Uber and Robinhood before the companies took off and is also a co-host of the influential All-In podcast.
His advice in June 2023 to “focus on AI” proved timely.
A $10,000 investment in Nvidia on that date would be worth about $56,100 today. Meanwhile, investing the same amount in Bitcoin would have yielded approximately $30,100.
Even so, the investor’s track record deserves context. Semiconductor stocks performed similarly to Bitcoin over the period. In addition, Calacanis recommended buying Bitcoin directly in September 2025.
Does the market support the warning of a drop to $57,000?
Calacanis believes Bitcoin is losing ground among investors, while AI offers greater economic value.
…Just sell and move from Bitcoin to Superintelligence…, he argued, calling Bitcoin a “dead network.”
There are reasons for caution. Bitcoin has fallen about 37% from its October 2025 peak, when it came close to $126,200.
U.S. spot Bitcoin ETFs also saw outflows of nearly $773 million on October 22 and 23.
Glassnode estimates that these funds bought their positions at an average price of around $81,500, putting investors under pressure at current prices.
However, ETF inflows rebounded by around $110 million on October 26. There is still no data indicating consistent institutional selling.
Are AI stocks replacing Bitcoin?
The performance gap is significant. Over the past 12 months, semiconductor stocks have risen about 62%, while Bitcoin has fallen 30%.
However, Bitcoin still has a positive correlation with technology stocks. Over the 90 days through October 25, the asset’s correlation with the Nasdaq index stood at 0.38, indicating the risk of a simultaneous decline when investors become risk-averse.
Even the AI-linked cryptocurrency that received an investment from Calacanis, Bittensor (TAO), has lost nearly 40% over the past 12 months.
Meanwhile, Alex Thorn of Galaxy Digital believes Bitcoin bottomed in June and could rebound toward $125,000 if long-term selling pressure eases.
The bullish outlook would weaken if Bitcoin stayed below approximately $76,540. That’s why the coming weeks will be decisive in determining whether Calacanis’s bearish prediction gains traction.
The article Investor who predicted the AI boom forecasts a Bitcoin crash first appeared on BeInCrypto Brasil.