$BTC
The Orange Necktie Remains
Jason Calacanis, a venture capitalist and longtime Bitcoin skeptic, posted a new critique after BTC fell to around $80,000.
He described Bitcoin as like CD records in the Spotify era, and likened it to “a dead body that keeps bouncing,” criticizing the lack of a critical use case and failure to achieve mass adoption, while mocking that its supporters replaced pirate flags with orange neckties and embarrassing memes.
Michael Saylor replied in just three sentences:
> “I’ve seen Bitcoin grow since 2011. Now it’s worth $1.6 trillion. Preserving wealth across generations is a bigger ambition than just entertainment at a dinner party.”
Then he concluded:
“The orange necktie remains.”
After 17 years, the two are still looking at the same asset, but each sees it in a completely different way.
According to CoinDesk, both are still watching Bitcoin.
Arthur Hayes: Recent lab-talk from AI firms about “slowing development for safety reasons” may be hiding weak demand for AI at current prices.
If AI model training budgets are cut, data centers and chip companies’ debt could be harmed.
But if the U.S. government steps in to rescue the AI sector, it could increase dollar liquidity—which may support Bitcoin.
Hayes found a way to make Bitcoin benefit whether AI succeeds or fails.
The Orange Necktie Remains
Jason Calacanis, a venture capitalist and longtime Bitcoin skeptic, posted a new critique after BTC fell to around $80,000.
He described Bitcoin as like CD records in the Spotify era, and likened it to “a dead body that keeps bouncing,” criticizing the lack of a critical use case and failure to achieve mass adoption, while mocking that its supporters replaced pirate flags with orange neckties and embarrassing memes.
Michael Saylor replied in just three sentences:
> “I’ve seen Bitcoin grow since 2011. Now it’s worth $1.6 trillion. Preserving wealth across generations is a bigger ambition than just entertainment at a dinner party.”
Then he concluded:
“The orange necktie remains.”
After 17 years, the two are still looking at the same asset, but each sees it in a completely different way.
According to CoinDesk, both are still watching Bitcoin.
Arthur Hayes: Recent lab-talk from AI firms about “slowing development for safety reasons” may be hiding weak demand for AI at current prices.
If AI model training budgets are cut, data centers and chip companies’ debt could be harmed.
But if the U.S. government steps in to rescue the AI sector, it could increase dollar liquidity—which may support Bitcoin.
Hayes found a way to make Bitcoin benefit whether AI succeeds or fails.
