Prominent angel investor Jason Calacanis recently shared his view that while Bitcoin has a slight chance of going to zero, it’s now “too big to fail.” Calacanis highlighted the risks associated with Bitcoin’s unregulated nature and the market volatility that comes with it. His remarks coincide with a period of significant growth in Bitcoin’s market cap as it reached record-high levels.
Bitcoin’s Minimal Risk of Dropping to Zero
In a recent social media post, Calacanis expressed that the likelihood of Bitcoin dropping to zero remains, but he estimates this risk to be below 5%. He noted that Bitcoin has grown too large to completely fail—a stance that contrasts with his 2018 prediction, during which he estimated a 70% chance of Bitcoin falling to zero amid a deep bear market.
Calacanis also reiterated his criticism of Bitcoin’s unregulated structure, suggesting it makes the cryptocurrency highly susceptible to manipulation. He advised those who didn’t invest early that they may have missed the boat, reflecting the ongoing risks within the crypto space. The investor added that it’s “astonishing” Bitcoin hasn’t been banned by Western governments and pointed out the resilience of the Bitcoin network, which remains secure despite potential threats from state actors or hacker groups—a “remarkable success,” in his words.
To best honest, I’m SHOCKED that Bitcoin hasn’t been banned by western governments — who are going to lose a LOT of power as it becomes ubiquitous.
…. and I’m somewhat shocked that a nation state, hacker collective, etc. hasn’t figured out a way to compromise the network.… https://t.co/To6phlbKt1
— @jason (@Jason) November 10, 2024
Calacanis’ Bitcoin Holdings and Long-Term Interest
Calacanis disclosed his own Bitcoin investments, mentioning, “Full disclosure, I bought a significant amount of Bitcoin at $100-$200 and still hold it.” This admission shows his sustained interest in the cryptocurrency over the long term.
His comments come as Bitcoin’s market cap saw a major spike, reaching an all-time high of $81,800 earlier today, underscoring Bitcoin’s resilience and growing appeal. The future of crypto markets will likely continue to evolve, driven by government policies, regulatory moves, and market dynamics.
