Angel investor says Bitcoin has bottomed, sell it and buy Solana
Jason Calacanis, the angel investor and early backer of Uber, Robinhood, and dozens of Silicon Valley's most successful startups, has a message for Bitcoin holders: the bottom is in, and now is the time to rotate.
In a post on X, Calacanis said he believes Bitcoin has formed a power bottom, a term used to describe a sustained, conviction-driven price floor, but immediately followed that with advice that will sit uncomfortably with Bitcoin maximalists.
"Seriously, if you were my brother I would say sell half your Bitcoin and put it into productive projects like TAO and SOL, that are actually delivering new products, not just projects and promises," Calacanis wrote.
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The framing is deliberate. His distinction isn't between Bitcoin and altcoins broadly, it's between assets he views as static stores of value and ecosystems he believes are actively building and shipping.
Solana, currently trading near $73.84, and Bittensor's TAO, at approximately $190.83, were his specific picks.
Calacanis's case rests on a simple investor logic, capital should flow toward where value is being created, not simply stored.
Solana has built a reputation for high-throughput transaction processing and a rapidly expanding developer ecosystem, while Bittensor has emerged as one of the more serious attempts to build decentralized AI infrastructure on a blockchain.
For a venture investor whose entire career has been built on backing early-stage builders, the appeal of ecosystems actively shipping product over an asset with a fixed supply and no programmable layer is understandable, even if it cuts against a narrative that has rewarded Bitcoin holders for years.
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Calacanis's post arrives at a moment when Bitcoin sentiment is already fragile.
Apparent demand has been negative for over 200 days, institutional flows have dried up, and August historically averages a 10 percent decline for Bitcoin.
His call that the bottom is in may prove right. His advice to rotate out of half the position will likely prove far more controversial.
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This story was originally published by TheStreet on Aug 4, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.