James Altucher
Investor & Author, Technology & Markets
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 leads the world in decentralized learning that can unlock corporate data behind firewalls, and at a $2.5B value it is cheap. Big AI models already have all public data, so the largest unused pool is private corporate data that firms won't release for competitive or legal reasons. Training locally and sharing only weights could build a model bigger than OpenAI's. The hard part is getting companies to join and trust it; pharma's MELLODY consortium tried this without useful results. x.com x.com x.com x.comÂ
Bittensor's TAO is cheap at a $2.9 billion valuation because decentralized AI will be at the forefront while many AI stocks trade at crazy valuations. Per Polymarket, Microsoft CEO Satya Nadella warns that an AI future dominated by a few models is "not stable." 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 new Gamma tokenomics are unattractive, making the protocol even more complicated and possibly useless. 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 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
Bittensor is a crypto-Ponzi with no utility or product-market fit, driven entirely by token inflation: about $328M of TAO is printed annually against only $15M of revenue. Holders fund subnets through inflation, yet operators keep 100% of revenue plus 18% of emissions. Per Pine Analytics, unsubsidized inference on the Chutes subnet costs up to 3.5x centralized rivals, as decentralized compute needs verification and replication and suffers latency. It is unsustainable and headed for collapse. … Show more
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 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
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
