Prominent angel investor Jason Calacanis has renewed his criticism of Bitcoin while praising Solana and Bittensor as projects that deliver usable products. His remarks came as SOL traded near $74 within a key weekly demand zone, with traders watching to see if support holds and whether the price can break its short-term downtrend.
Calacanis Shifts from Solana Skepticism
Calacanis said he would advise his brother to sell half of any Bitcoin holdings and redirect the proceeds into “productive projects” such as Solana and Bittensor. He noted that both networks are delivering new products rather than relying solely on future promises, marking a clear shift from his earlier public stance on Solana.
In late 2024, Calacanis said he had never owned SOL and questioned whether the network offered meaningful applications beyond market speculation. He repeated that position through early 2025 while stating he owned only Bitcoin. More recently, he has pointed to entrepreneurs building on TAO and SOL, though he has not disclosed any investment in either token or any direct relationship between Solana Labs and his venture firm.
Bitcoin Strategy Criticism Remains
Calacanis still describes himself as a longtime Bitcoin holder, but he has repeatedly criticized Strategy (formerly MicroStrategy) co-founder Michael Saylor. He argues that Strategy has grown too influential within the Bitcoin market and distorted the broader narrative. Calacanis urges investors to buy Bitcoin directly instead of gaining exposure through Strategy shares, saying the company’s financing model creates risks that direct ownership avoids.
He has stated he would never buy Strategy stock, even after a steep price decline, and rejected any taxpayer-funded rescue if the company faced serious financial trouble. His criticism focuses on Strategy’s financing structure rather than Bitcoin ownership itself.
SOL Holds Weekly Demand Near $74
Solana is trading inside a broad weekly demand zone stretching from about $64 to $75. Buyers have responded several times within that range, making the region central to the current Solana price outlook. SOL recently slipped below a previous low near $68 before recovering above it, a move that may represent a liquidity sweep.
However, the 12-hour chart structure continues to show lower highs and a descending trendline. A decisive move above the $80 to $84 resistance area could open a path toward $92.91, then approach a market-structure level near $98. On the downside, $68.44 remains the nearest important support. A weekly close below that level could expose the lower demand area near $64, weakening the immediate bullish setup.
Until SOL clears the descending trendline and completes a successful retest, a move toward $90 remains conditional. Another decline may also help traders assess whether the market has formed a bottom resembling Solana’s 2022 price structure.
Conclusion
Calacanis has shifted from questioning Solana’s utility to describing SOL and TAO as productive networks, while maintaining his criticism of Bitcoin-linked Strategy shares. For traders, SOL’s next signal depends on holding $68.44 and breaking $80–$84 before the projected move toward $90 gains confirmation.