In a recent social media post, Jason Calacanis, a prominent American angel investor, has predicted that Bitcoin might still potentially crash to zero. However, at this point, such a scenario seems to be unlikely with a probability of less than 5%. The angel investor has noted that the largest cryptocurrency now feels "too big to fail."
In late 2018, Calacanis estimated that the probability of the leading cryptocurrency collapsing to zero was as high as 70%. Back then, the flagship cryptocurrency was in the middle of a brutal bear market. "If you own Bitcoin, understand it's a highly manipulated currency, with no rules or regulations.... if you didn't get in early, you're the sucker at the table," Calacanis said.
Calacanis said that he was "shocked" by the fact that Bitcoin had not been banned by Western governments. He also commented on the "brilliance" of the Bitcoin network, which is yet to be compromised by a nation state or a hacker collective.
The angel investor has significant exposure to the cryptocurrency, according to this social media post. "Full disclosure, we own a ton of it, which we bought at $100-200 and we've never sold," he said.
Earlier today, the leading cryptocurrency by market capitalization surged to a new record high of $81,800.
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov