Is now the time for a ‘better Bitcoin’? – Investor sparks debate

• Jason Calacanis urged for a Bitcoin alternative, highlighting his concern about market centralization.
•  Bitcoin underperformed gold, losing 32% of its value compared to the precious metal.

The crypto market appears to be regaining strength, showing early signs of bullish momentum after a prolonged bearish phase.

Bitcoin [BTC] was trading at $82,972.15, at press time, reflecting a modest 0.11% gain in the past 24 hours, according to the latest CoinMarketCap data.

Jason Calacanis ignites Bitcoin controversy

Amid this recovery, angel investor Jason Calacanis has sparked controversy within the Bitcoin community.

The tech investor, known for backing Uber in its early days, recently claimed that BTC is destined to be replaced by a superior alternative—an assertion that has drawn significant backlash from Bitcoin proponents.

Calacanis said, 

“Bitcoin has been a wonderful game, but with a couple giant players cornering the market, the timing is right to “build a better bitcoin” — restarting the game!” 

He added, 

“folks cornering the market will say this is foolish, while they donate to Trump to encourage more buying, but…”

What is he trying to convey?

Jason Calacanis appears to critique the current state of Bitcoin, emphasizing his concern about market centralization. His remarks suggest that a small group of dominant players has monopolized the Bitcoin ecosystem.

He argues that this dynamic undermines its foundational principle of decentralization.  By advocating for a “better Bitcoin,” Calacanis envisions an alternative that could restart the ecosystem and foster fairer participation.

His mention of “donations to Trump to encourage more buying” hints at a belief that certain influential figures may manipulate narratives or market sentiment for their benefit.

Through this, Calacanis challenges the status quo and invites others to consider innovative approaches to improve Bitcoin or explore alternatives altogether.

Community reacts

Countering Calacanis’ claims, an X (formerly Twitter) user — Christopher David noted, 

Another X user—Manny added,

“Brother you missed it just buy more.”

What’s more?

Bitcoin’s performance against gold has sparked fresh debates. Long-time critic Peter Schiff claims BTC is in a “stealth bear market” compared to gold.

Historically, Bitcoin outperformed gold, surging over 12,000% in a decade and 200% in two years. However, this trend reversed in 2025.

But, currently, BTC has lost 32% of its value against gold, falling from 41 to 28 on the BTC/gold chart. This indicates gold’s superior performance as a store of value in Q1.

Bitcoin erased its ‘Trump pump’ gains, while gold surged to a new high of $3,000. This highlights gold’s resilience during uncertain markets.