Bitcoin Stays Below $80K as Investors Shift Focus to AI Infrastructure

Bitcoin remains under pressure despite easing interest rates, declining oil prices, and a recovery in equity markets. Meanwhile, investor interest appears to be shifting back toward artificial intelligence, as major companies commit substantial capital to AI development.

SoFi Crypto Accounts Surpass 500,000 as Shares Climb 11%

SoFi Technologies reported that its cryptocurrency business surpassed 500,000 accounts less than a year after the company restored digital asset trading to its platform. The figures were included in its third-quarter earnings report released Tuesday.

The fintech firm had 503,070 crypto accounts as of Sept. 30, following the late-2025 relaunch of SoFi Crypto. The service allows customers to purchase, sell, and hold digital assets alongside traditional banking and investment products.

During the quarter, SoFi generated $161.6 million in cryptocurrency transaction revenue. However, approximately $160 million in related expenses absorbed nearly all of that amount, leaving net crypto transaction revenue at just $1.63 million.

For the first nine months of 2026, the company recorded $3.67 million in net revenue from crypto transactions.

SoFi’s overall financial performance was considerably stronger. Quarterly revenue increased 44% year over year to $1.39 billion, supported by expansion across its broader financial services operations.

Following the earnings announcement, SoFi shares climbed 11% in premarket trading.

Galaxy Digital Rises 4.5% After Beating Earnings Expectations

Galaxy Digital, led by Mike Novogratz, reported third-quarter results that exceeded analyst expectations, helped partly by Bitcoin’s gains during the quarter.

The company recorded $419 million in treasury and corporate profit, reversing a $42 million loss in the previous quarter.

Galaxy also authorized a new $200 million share buyback program after completing its previous authorization. The company said it had repurchased approximately 9.8 million shares so far this year.

Novogratz said progress across Galaxy’s two businesses was improving and diversifying its earnings while positioning the company to benefit from future growth opportunities.

Galaxy’s Helios I data center project has secured full financing for its second phase, which is under construction and progressing according to schedule. The company is also negotiating with potential tenants for the additional 830 megawatts of capacity planned at Helios II, saying market conditions are becoming increasingly favorable.

Galaxy shares gained 4.5% in premarket trading, although they remained down more than 30% over the previous month.

Jason Calacanis Predicts Bitcoin Could Fall to $57,000

Venture capitalist Jason Calacanis attracted attention after warning that Bitcoin could face further losses over the coming year.

In a post on X, Calacanis predicted that Bitcoin could revisit $57,000 within the next 12 months. He argued that investors have more productive places to allocate capital, questioning Bitcoin’s utility beyond serving as a store of value.

Calacanis encouraged investors to shift their funds from Bitcoin toward artificial intelligence, describing the sector as offering greater potential benefits for humanity.

He subsequently expressed a bullish view on Bittensor (TAO), pointing to the token’s focus on expanding AI-related infrastructure. However, TAO has also struggled, falling 25% over the past month and 38% over the previous year.

Calacanis has previously made bearish predictions about Bitcoin at significantly lower prices, prompting users on X to highlight his earlier calls.

Bitcoin Slips Below $80,000 as AI Investment Draws Capital

Bitcoin declined to approximately $79,750 early Tuesday, posting a 0.6% loss over 24 hours ahead of the U.S. stock market open. Ether and Solana recorded similar declines, while XRP gained 1% after Ripple received final approval to establish its U.S. national trust bank.

Bitcoin was down 2.5% over the previous seven days, even as expectations for Federal Reserve rate hikes eased and oil prices retreated from earlier gains this month.

Equity markets showed greater resilience. The Nasdaq advanced more than 1% on Monday, while futures rose another 0.4% on Tuesday.

Artificial intelligence appears to be regaining investor attention, with major companies announcing substantial funding plans. Meta disclosed a $95 billion capital raise, while Anthropic filed for an initial public offering, with reports suggesting it could seek to raise as much as $100 billion.

Together, the potential funding efforts represent nearly $200 billion in capital directed toward AI-related growth, highlighting the scale of competition for investor money between the technology sector and cryptocurrency markets.

Attention is now turning to the Federal Reserve’s two-day policy meeting, which concludes Wednesday. Markets widely expect the central bank to leave interest rates unchanged.

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