Morgan Creek CEO Yusko Says Bitcoin Is Undervalued, Sees Fair Value at $105,000
Summary
- Mark Yusko, CEO of Morgan Creek Capital Management, said Bitcoin (BTC) has a fair value of about $105,000.
- Yusko said that based on Metcalfe’s law, Bitcoin’s current price of about $75,000 makes it a good time to buy.
- Yusko said Bitcoin can preserve personal wealth over the long term and serve as a store of value alongside gold.
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Mark Yusko, chief executive officer of Morgan Creek Capital Management, said Bitcoin is currently undervalued and pegged its fair value at about $105,000.
In an interview with crypto-focused outlet Bitcoin Magazine on Sept. 16, Yusko said Bitcoin’s fair value under Metcalfe’s law is about $105,000. With the cryptocurrency trading at around $75,000, now is a good time to buy, he said.
He described Bitcoin as a tool for protecting personal wealth and argued that long-term investment in companies is not a good choice. He added that 85% of companies have disappeared over the past 30 years, underscoring the need for an asset that can preserve value over the long term.
Yusko said gold has historically served as a store of value for about 5,000 years and argued that Bitcoin can now play that role alongside gold.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.