Prominent investor says memecoins are a giant scam, buy only if you can lose everything

U.S. investor and tech entrepreneur Jason Calacanis (제이슨 칼라카니스) delivered a sharp criticism of memecoins, calling them a “giant scam.”

Blockchain outlet U.Today reported on Sept. 27 local time that Calacanis recently said on social media that he is not connected to any memecoin project and will not be involved in the future.

Calacanis wrote, “I have nothing to do with any meme coins and never will.” With memecoin investment fever continuing, he drew a line against investment solicitations using his name or possible impersonation. He warned against investment instructions via social media or direct messages, saying, “I will obviously never ask you to buy, sell or trade anything — especially on social media or via DM.”

His comments go beyond a simple criticism of memecoins. Calacanis also reaffirmed the view that both memecoin and startup investments should be approached only when a person can bear the possibility of losing the entire principal. He said, “If you can’t handle losing 100% of the money you put in, don’t buy meme coins or invest in startups.”

Calacanis has also recently expressed skepticism about bitcoin. On Sept. 18, he described a rebound in bitcoin’s price as a “dead cat bounce” and argued that bitcoin is still not suitable for everyday payments or smart contracts even after 17 years since its launch. He also said the user experience remains difficult for mainstream users to access and that it is not attracting as much public attention as it did in the past.