Jason Calacanis Calls Bitcoin Boring as Michael Saylor Defends Its Long-Term Value

On September 19, venture capitalist Jason Calacanis posted a critical message about Bitcoin after it moved back above $80,000, comparing it to CDs in the Spotify era and DVDs in the Netflix era. According to ChainCatcher, he said Bitcoin is weak for trading and smart contracts, offers a poor user experience, and no longer captures the public imagination. Calacanis added that if Bitcoin were going to achieve mass adoption and major use cases, it would have done so already. He also said people now expect Bitcoin to remain stable, described it as no longer a fast path to wealth, and mocked its advocates as having shifted from pirates to suit-wearing figures sharing awkward memes. MicroStrategy co-founder Michael Saylor responded that Bitcoin has grown into a $1.6 trillion success and the world’s most valuable digital asset. He said digital capital is the killer app and that preserving wealth across generations is a bigger ambition than pleasing dinner guests. Saylor also said the orange tie will stay on.