Calacanis Warns Saylor's Strategy May Crush Bitcoin's Price Targets
Bitcoin's potential price target of $250,000 may be at risk due to Michael Saylor's accumulation efforts through Strategy, according to early Uber investor Jason Calacanis. Calacanis argued that Saylor's actions have fundamentally changed the cryptocurrency market and could undermine Bitcoin's value.
In a post on X, Calacanis questioned whether Bitcoin can continue attracting enough new investors, stating 'Bitcoin requires a growing community of believers... at least for the price to go up.' He also described Strategy as 'the most convoluted way to buy Bitcoin ever invented,' suggesting that investors should simply purchase Bitcoin itself.
Not everyone agrees with Calacanis's assessment. Bitwise CEO Hunter Horsley directly rejected his views, stating 'I think you're wrong.'