zipwas

Jason Calacanis invested in Uber at a $5 million valuation. Today Uber is worth $145 billion. That $25,000 check turned into $100 million. Now he's calling 200x on Bittensor. Here's his full thesis. @Jason isn't some crypto influencer. He's one of the most successful angel investors in Silicon Valley history. Host of This Week in Startups. Co-host of All-In. And he's never been a Bitcoin bull. In fact, he's been a vocal critic for years. But he just put deep six figures on TAO. His exact words: "I think the game of Bitcoin has ended. TAO is the better Bitcoin." His framework is simple. Three layers of crypto. • Bitcoin = the money layer. "The game has ended." • Ethereum = the application layer. DeFi, NFTs, smart contracts. • Bittensor = the intelligence layer. The one nobody's tapped yet. His target: $500 billion market cap. 200x from today's $2.5 billion. Timeline: 5 to 10 years. He's not alone. He's a consulting partner at Stillcore Capital. A US fund built exclusively around Bittensor. Their stated goal is to own 1% of the entire circulating TAO supply. First stage target: $25 to $50 million. @markjeffrey, Stillcore partner, said once the first subnet crosses $1 billion, root stakers will flood into subnets. Even with zero new TAO bought, subnets could 3 to 4x from internal rotation alone. @rob_svrn, another Stillcore partner, is targeting $1 trillion by 2030. The data is moving fast. • TAO rallied 160% in 6 weeks during a bear market • First halving happened December 2025. Emissions cut from 7,200 to 3,600 TAO per day • Subnet staking went from $74,000 to $620 million in 12 months • 128 active subnets competing for emissions. Expansion to 256 planned • Chutes (Subnet 64) running 5M+ requests per day. 400K users. 85% cheaper than AWS And then NVIDIA's CEO got involved. Jensen Huang discussed Bittensor's Covenant-72B model on the All-In podcast. Called decentralized AI training "a pretty crazy technical accomplishment." A 72 billion parameter model trained by 70+ contributors on regular internet hardware. No data center. No billion dollar GPU cluster. Just people contributing compute and getting rewarded. That was thought to be impossible before March 10th. Bittensor has the same max supply as Bitcoin. 21 million. Same halving cycle. But instead of securing transactions, the compute trains AI models. The output is intelligence, not just security. The guy who made 4,000x on Uber thinks 200x is the floor. Bitcoin was money. Ethereum was apps. Bittensor is intelligence.

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