Morgan Creek CEO: bitcoin is undervalued, fair price is $105,000
- —Yusko estimated BTC's fair price at $105,000 under Metcalfe's law
- —Called the current price around $75,000 a good buying opportunity
- —Compared bitcoin to gold as a store of value
- —Said 85% of companies disappeared over 30 years, so an asset is needed to protect capital
Why it matters: The statement from a major institutional manager supports the narrative of BTC being undervalued amid a weak market.
Source: Bloomingbit