Summary
Dan Tapiero says AI agents will rely on blockchain, not banks
• Bitcoin fell from $125,000 to near $60,000
• He argues institutional adoption remains intact
Bitcoin’s sharp drop from $125,000 to near $60,000 unsettled investors who expected a routine pullback.
However, investor Dan Tapiero says the correction does not break the long-term thesis particularly as blockchain becomes central to AI-driven finance.
Dan Tapiero: AI Agents Won’t Use JPMorgan
Dan Tapiero said artificial intelligence systems will not route payments through traditional banks.
Speaking with Scott Melker on The Wolf of All Streets and TheStreet Roundtable, Tapiero argued that blockchain networks will serve as the financial rails for AI.
“AI agents are not going to wire money through JPMorgan Chase,” he said, adding that blockchain represents the “money of AI.”
His comments reinforce a broader view that decentralized infrastructure may support automated, machine-driven transactions more efficiently than legacy banking systems.
Bitcoin Correction Deeper Than Expected
Tapiero acknowledged the recent drawdown surprised him.
He said he initially expected a 20% to 30% pullback from $125,000 toward the $90,000–$100,000 range. Instead, Bitcoin fell roughly 50% at one point before stabilizing near $65,000.
Even so, he described the $50,000–$60,000 range as long-term value territory.
$100,000 Seen as Structural Resistance
Tapiero reiterated that $100,000 represents a key psychological barrier.
“When we were at $20,000 or $30,000, I said we would hit $100,000 and then pause,” he said.
Although Bitcoin briefly surged beyond that level to $125,000, it later reversed sharply.
According to Tapiero, such pauses are natural as early holders take profits after large multi-year gains.
Institutional Ownership Expands
Tapiero also pointed to structural changes in the market.
Spot Bitcoin exchange-traded funds have attracted meaningful capital, and several public companies now hold digital assets on balance sheets.
He estimated that 5% to 10% of total supply in major tokens sits in institutional vehicles. That marks a significant shift from prior cycles dominated by retail traders.
Context: Speculative Capital Fractures
While Bitcoin has matured, Tapiero noted that many early-stage tokens remain down more than 90%.
He described the downturn as a “fracturing” of speculative capital across markets rather than a collapse of core digital assets.
Therefore, the divergence between Bitcoin and venture-style tokens may reflect a market sorting process.
Tapiero maintains that blockchain infrastructure will underpin AI-driven financial activity, even as Bitcoin navigates a steep correction.
Whether the market stabilizes above current levels may depend on how institutional flows and macro conditions evolve in the months ahead.
