Summary

• Investor Jason Calacanis calls meme coins a “giant scam” and denies any involvement in crypto projects built around such tokens.
• He warns followers that he never sends private messages instructing anyone to buy, sell, or trade cryptocurrencies on his behalf.
• Calacanis also questions Bitcoin’s everyday usefulness and doubts the durability of its rallies, despite occasionally celebrating its short-term price gains.

Investor Jason Calacanis has called meme coins a “giant scam” and ruled out involvement in any project built around them. According to his social media post, Calacanis has no connection to meme coins and has no intention of joining one. He also warned followers that he would never privately instruct anyone to buy, sell, or trade an asset.

The warning addressed two related concerns: his name becoming associated with a token and someone presenting a trading message as his advice. By stating his position publicly, Calacanis gave followers a way to judge any private investment pitch attributed to him.

His latest comments build on earlier warnings about the amount of money people can lose through speculative investments. Calacanis previously urged people to avoid meme coins unless they could afford to lose their entire investment.

He applied that caution to startup investments as well, while acknowledging that people may still choose to take those risks. However, his description of meme coins as a “giant scam” leaves little doubt about his current view of them.

Also Read: XRP’s October Record Puts Its Third-Quarter Rally to the Test

Calacanis Has Also Questioned Bitcoin’s Long-Term Appeal

Calacanis’s criticism extends beyond meme coins, although he has described himself as a fan of Bitcoin. On September 18, he called a Bitcoin price recovery a “dead cat” bounce, expressing doubt about the rally’s strength.

He also argued that Bitcoin remains poorly suited to everyday transactions and lacks useful smart contract features. Moreover, he described its user experience as intimidating for mainstream users, despite the cryptocurrency’s 17-year history.

Calacanis questioned whether Bitcoin still attracts the public attention it once enjoyed during earlier stages of its growth. His remarks followed an August post in which he had also dismissed a rally as a temporary rebound.

In that earlier post, he predicted Bitcoin would struggle to reach a new record high in the near term. He argued that individuals and institutions could find other assets more valuable to own, reflecting his broader doubts about Bitcoin.

Nevertheless, his criticism has not stopped him from reacting enthusiastically to individual price moves. Later on the day of his August warning, he posted “BITCOIN!” as the cryptocurrency climbed.

Calacanis has also joked about Strategy co-founder Michael Saylor, whose company holds Bitcoin as a major treasury asset. During a period of Bitcoin weakness in August, Calacanis asked his followers to “check on Saylor.”

His Bitcoin remarks address the cryptocurrency’s price and usefulness, while his meme coin warning carries a more personal message. Calacanis says he has no role in meme coin projects and will not send followers private trading instructions.

Also Read: Dogecoin Struggles to Hold $0.10 Despite Renewed Attention on Elon Musk