Kip Herriage
Founder & Managing Partner of Vertical Research Advisory
Bittensor is the top crypto pick, the Bitcoin of AI, with 100x potential. Its proof of useful work evolves Bitcoin's proof of work: per a piece shared by @wallstreetbets, Bitcoin miners earned $17.2 billion in 2025 burning Poland-scale power to produce nothing beyond securing transactions, while Bittensor's computation produces intelligence. That true utility gives it rare appeal to Bitcoin veterans. x.com x.comÂ
Bittensor's subnet economy could lift TAO via Alpha-token demand, but a major rally needs paying AI customers, not emission farming. About 64.2% of circulating TAO was staked as of Oct 7. At ~$3.24B, TAO is no cheap microcap. Still constructive long term, but stronger conviction needs verifiable revenue, demand above issuance, competitive AI products and institutional access. AI sentiment and crypto liquidity must also recover; Grayscale trust filings alone do not guarantee inflows. x.comÂ
Bittensor's TAO is the Bitcoin of AI, a decentralized AI marketplace with a 21 million maximum supply. History doesn't repeat, but it rhymes. x.comÂ
Bittensor's arbitrary reward functions make its design far more complex than Pearl's MatMul focus, and that complexity works against TAO. Bittensor might still work if it got the design right; if not, repeated revisions may never reach a working end state. Pearl could get there faster and, if correct, get much bigger, though it too may fail. If, as Sebtensor says, TAO is an AI economy rather than AI money, Ethereum's struggle to accrue value to ETH is a further bearish warning. x.com x.com x.comÂ
Bittensor is the leading AI crypto project, so TAO should run once the FUD clears; it is one to buy and hold. x.comÂ
Bittensor has a very unique opportunity for a crypto breakout, combining one of the most cult-like communities since Ripple, Chainlink and early Ethereum with subnet adoption and massive global investment in AI. x.comÂ
TAO could surprise to the upside in the short term on the strong AI narrative, but there is no reason to believe in it long term. x.comÂ
Bittensor's nearly two-and-a-half-year downtrend is very close to ending, needing a weekly close above 320 to confirm a higher high, after which 500 looks easy. Businesses owning subnets now do $25-30m in annualized revenue, estimated at about $100m by year-end, from real paying customers. TAO pumping last has not been a great signal before, but Bitcoin's higher high and clear bullish structure change likely make this time different. x.com x.comÂ
TAO looks undervalued at about $3B while frontier AI labs are worth a trillion, because Bittensor subnets can already give AI power users frontier-like quality at lower prices. Subnets cover models (engy, Chutes, saygm), storage and databases (Hippius), GPUs (Targon, Lium) and search (Desearch). x.comÂ
Bittensor's TAO suffers because the network lets subnets like SN95 extract millions in emissions without delivering. SN95 has made promises for over a year, shown no functional product or code, keeps pushing deadlines, barely communicates and raised money on the side. Its owner not selling, as @0xSunRun notes, doesn't change that: emission-inflated prices let others sell into the pool, and if the subnet is deregistered, the TAO is paid out and leaves the chain. x.com x.com x.com x.com x.com … Show more
Bittensor shows clear relative strength as one of the two best cryptos trading above both their 50-day and 200-day moving averages, alongside Hyperliquid, when few cryptos are in uptrends. Its decentralized compute network also drew Jensen Huang's remark that it achieved big technical breakthroughs helping train some Llama models. x.comÂ
