Calacanis Turns Bullish on Solana, Urges Selling Half of Bitcoin

Prominent angel investor and early Uber backer Jason Calacanis has shifted his stance on Solana, urging investors to consider selling some of their Bitcoin for the altcoin. Despite previously dismissing Solana as having no real-world utility, Calacanis now sees it as a viable option for productive projects.

In recent interviews and posts, he has argued that entrepreneurs are building on Solana and other networks, producing tangible products. He even jokingly referred to the 'BTC power bottom' being in place, suggesting that Bitcoin's price may be at or near its lowest point.

However, Calacanis still maintains his criticism of Strategy co-founder Michael Saylor and the company's dominant market narrative. He believes that investors should purchase Bitcoin directly rather than buying shares in Strategy, citing the firm's financing model as a source of unnecessary risk.