Key facts
- Investor
- Jason Calacanis, angel investor and early backer of Uber and Robinhood
- Bitcoin call
- Says Bitcoin has formed a 'power bottom'
- Advice
- Sell half your Bitcoin and put it into TAO and SOL
- Solana price
- Near $73.84
- TAO price
- Approximately $190.83
- Bitcoin sentiment
- Apparent demand negative for over 200 days; institutional flows dried up
Background
Jason Calacanis, an angel investor and early backer of Uber, Robinhood, and dozens of Silicon Valley startups, has publicly stated that Bitcoin has formed a 'power bottom'—a term he used to describe a sustained, conviction-driven price floor.
In a post on X, Calacanis immediately followed that assessment with advice that may unsettle Bitcoin maximalists: 'Seriously, if you were my brother I would say sell half your Bitcoin and put it into productive projects like TAO and SOL, that are actually delivering new products, not just projects and promises.'
His distinction is not between Bitcoin and altcoins broadly, but between assets he views as static stores of value and ecosystems he believes are actively building and shipping.
Current situation
Calacanis specifically named Solana, currently trading near $73.84, and Bittensor's TAO, at approximately $190.83, as his preferred picks.
His case rests on a simple investor logic: capital should flow toward where value is being created, not simply stored. Solana has built a reputation for high-throughput transaction processing and a rapidly expanding developer ecosystem, while Bittensor has emerged as one of the more serious attempts to build decentralized AI infrastructure on a blockchain.
The post arrives at a moment when Bitcoin sentiment is already fragile. Apparent demand has been negative for over 200 days, institutional flows have dried up, and August historically averages a decline for Bitcoin.
| Asset | Price | Note |
|---|---|---|
| Solana | $73.84 | Calacanis pick |
| Bittensor TAO | $190.83 | Calacanis pick |
| Bitcoin | Not specified | Apparent demand negative for over 200 days |
Impacts
For a venture investor whose career has been built on backing early-stage builders, the appeal of ecosystems actively shipping product over an asset with a fixed supply and no programmable layer is understandable, even if it cuts against a narrative that has rewarded Bitcoin holders for years.
If investors follow Calacanis's advice, they could reduce their Bitcoin exposure and increase allocations to Solana and TAO, potentially affecting demand dynamics for those assets. However, the actual impact remains unclear, as market reactions depend on broader sentiment and institutional behavior.
Bitcoin holders may face a dilemma: whether to heed the call that the bottom is in and hold, or to rotate half their position into projects Calacanis views as more productive. The controversy surrounding his advice could influence retail and venture-level decision-making.
Future outlook
Scenario analysis: The possibilities below are not certain predictions.
If Calacanis's 'power bottom' call proves correct, Bitcoin could stabilize and potentially recover, but his advice to rotate out of half the position may remain controversial. If demand remains negative and institutional flows stay dry, Bitcoin could face further downside despite the bottom call.
If Solana and TAO continue to deliver new products and expand their ecosystems, they may attract capital from investors seeking productive assets. However, if the broader crypto market weakens, even these projects could suffer.
The coming months may show whether Bitcoin's apparent demand turns positive and whether August's historical decline materializes. These scenarios are conditional and depend on market dynamics that remain uncertain.
Source: yahoo.com
