Foreign media: Calacanis says Saylor "changed the bitcoin game"

According to foreign media, early Uber investor Jason Calacanis believes that Bitcoin may not be able to rise to $250,000, let alone $1 million. He criticized Michael Saylor and Strategy, stating that their ongoing purchases and complex financing strategies have changed the way the Bitcoin market operates.

Calacanis’s Doubts

Calacanis stated on X that Saylor is trying to “corner” Bitcoin and has made numerous financial arrangements around this asset. In his view, this behavior has altered Bitcoin’s market structure and also weakened outsiders' confidence in its potential for further significant gains.

He has also repeatedly criticized Strategy, calling the company “the most convoluted way to buy Bitcoin.” In Calacanis’s opinion, those wanting exposure to Bitcoin should simply buy BTC directly, instead of holding it indirectly through a publicly listed company that keeps increasing its holdings.

How Much New Capital Can Bitcoin Still Attract?

Calacanis further questioned whether Bitcoin can continue to attract enough new buyers. He believes that in recent years, funds seeking growth and speculation have already shifted to other, more attractive targets.

This is also one of the reasons he thinks Bitcoin’s upside is limited. According to him, if the growth of new supporters slows, it will become harder for Bitcoin’s price to continue rising significantly.

The Market Is Not Uniformly Bearish

Not everyone agrees with this view. Bitwise CEO Hunter Horsley directly responded on X, stating that Calacanis’s opinion is wrong.

The article also mentions that Anthony Scaramucci remains bullish on Bitcoin, although he describes the current environment as a bear market. This further demonstrates that when it comes to long-term price targets for Bitcoin, there is still clear division in the market.