Bitcoin’s Collapse Unlikely, Says Investor Who Once Predicted Its Fall to Zero

Jason Calacanis, a well-known American angel investor, recently shared his thoughts on Bitcoin's future, suggesting that while a total collapse to zero is still technically possible, the likelihood is now under 5%.

Calacanis, who once predicted a 70% chance of Bitcoin crashing during the 2018 bear market, now believes the cryptocurrency has grown too large to fail. Reflecting on Bitcoin’s evolution, he pointed out its increasing resilience and growing adoption, noting that it’s “too big to fail” in today’s market.

In 2018, Calacanis described Bitcoin as a “highly manipulated currency” with a lack of regulation, urging caution for those who didn’t buy in early.

Despite his past skepticism, he expressed surprise that Bitcoin has not been banned by Western governments, praising its network’s robustness, which has remained secure from nation-state interference or hacker attacks.

Calacanis also revealed that he has substantial holdings in Bitcoin, having purchased it when prices were between $100 and $200 per coin, and has never sold. His comments come as Bitcoin reaches a new all-time high, recently surpassing $81,800 in value.