In the segment posted by TWiSTartups, Calacanis argues that TAO may have the kind of upside that could produce a 200x (from a $2.5 billion market cap), effectively labeling Bittensor as a long-duration, high-conviction AI infrastructure bet rather than a simple crypto trade.
Calcanis is widely known as an early Uber backer and longtime startup investor, and has increasingly attached his name to the Bittensor narrative.
A Stillcore Capital fund overview from late 2025 lists Calacanis as a consulting partner and describes the vehicle as a U.S. fund focused on Bittensor and TAO, presenting the token as institutional-grade exposure to decentralized AI. The same materials describe Bittensor as an “intelligence infrastructure” play and repeatedly position TAO as a reserve asset within that ecosystem.
Artificial intelligence (AI) agents are quietly becoming the newest traders, analysts, and operators in crypto—and dozens of exchanges, data firms,…
Artificial intelligence (AI) agents are quietly becoming the newest traders, analysts, and operators in crypto—and dozens of exchanges, data firms,…
Artificial intelligence (AI) agents are quietly becoming the newest traders, analysts, and operators in crypto—and dozens of exchanges, data firms,…
Calacanis’ call fits with a larger thesis now circulating around Bittensor, which is that if Bitcoin was the money layer of crypto and Ethereum became the application layer, TAO bulls believe Bittensor could become the intelligence layer for an AI-native internet.
Stillcore’s own materials go as far as to describe Bittensor as the potential “ Bitcoin of AI.”
TAO appears to be outshining an otherwise stagnant altcoin market, currently trading at $326, currently up 87% in the last 30 days.
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