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Altcoins · 1 min read

Jason Calacanis Urges Bitcoin Exit for AI, Discloses Bittensor Holdings

The technology investor pointed to recent spot ETF outflows and fading network utility, while maintaining a position in Bittensor's TAO token.

Editorial oversight: Julian Mercer, Chief Editor
Bearish
$BTC $79,732 −0.7% $TAO $247.83 −1.7%

At a glance

What happened
Investor Jason Calacanis urged selling Bitcoin for artificial intelligence on Oct. 27 while disclosing a long position in Bittensor.
Why it matters
The statement highlights ongoing capital rotation debates between store-of-value crypto assets and decentralized AI infrastructure.
Who is affected
Spot Bitcoin ETF investors and holders of BTC and Bittensor (TAO).
What's next
Upcoming daily fund flow reports from US spot Bitcoin exchange-traded funds.
Primary source
coindesk.com: BTC analysis: Investor who called for AI pivot in 2023 says bitcoin is going to $57,000

Key points

  • Jason Calacanis publicly urged investors to exit Bitcoin and allocate funds toward artificial intelligence on Oct. 27.
  • Farside Investors data showed spot Bitcoin ETFs shed roughly $774 million across two sessions before recovering $110 million.
  • Calacanis disclosed an ongoing investment in Bittensor's native token, TAO, citing its compute and AI service incentives.

Technology investor and podcast host Jason Calacanis called on investors on Oct. 27 to exit $BTC and reallocate capital into artificial intelligence, asserting that the network offers limited utility beyond a store of value 1. Calacanis argued that public pressure to hold the asset has dissipated while AI continues to absorb broader market interest 1. At the time of writing, Bitcoin was trading near $79,821.

Calacanis based his bearish stance partly on activity in spot Bitcoin exchange-traded funds 1. According to Farside Investors data cited in the report, spot Bitcoin funds experienced approximately $774 million in cumulative outflows across the preceding Thursday and Friday, before recording $110 million in net inflows on Monday 1. The redemptions, Calacanis claimed, signal weakening sustained demand among institutional and retail buyers, aligning with broader patterns examined in Bitcoin consolidates near $81,700 amid tech sector sell-off and record ETF outflows 1.

AI Token Allocation

Despite his negative outlook on Bitcoin, Calacanis confirmed that digital assets retain a role in his portfolio if tied directly to artificial intelligence infrastructure 1. He disclosed an active long position in $TAO, the native token of the Bittensor network 1. Calacanis noted that Bittensor incentivizes participants to provide decentralized computing resources, data storage, and machine-learning services 1.

The pivot follows Calacanis's 2023 comments advising cryptocurrency founders to reorient their business models toward artificial intelligence 1. Market participants are monitoring whether recent spot ETF redemption trends persist across remaining fourth-quarter trading sessions 1.

Sources

  1. [1] BTC analysis: Investor who called for AI pivot in 2023 says bitcoin is going to $57,000 — coindesk.com, October 27, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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