Bitcoin Undervalued By Over $200, Investment Bank Report Finds
Investment bank and asset management firm Needham & Company has released a report that concludes that bitcoin is currently undervalued by 58% based on today's price. The report values bitcoin at $655, compared to about $412 today and advises that investors buy shares in the Bitcoin Investment Trust (GBTC), a vehicle for speculators to invest in bitcoin without actually buying and holding the asset. Spencer Bogart, author of the report and Needham's newly appointed equity research associate in charge of bitcoin and blockchain, said that the report is a vote of confidence in an emerging....
Related News
A new report published by investment bank, Needham & Company, suggests that Bitcoin is undervalued by potentially as much as 58%, or $200, at the moment. Bitcoin is currently valued at around $412, but this is obviously subject to change at any time, but the report suggests that Bitcoin should in reality be valued at around $655, an increase of around 58%. The investment bank estimates that around 75%, or $4.8 billion, of Bitcoin’s market cap of $6.3 billion is being treated as an investment, and makes the suggestion that investors wishing to see large profits should buy shares in the....
Despite BTC’s price gains in 2020, the failings of our fiat monetary system demonstrate that bitcoin is still significantly undervalued. The post Why Bitcoin Is One Of The Most Undervalued Assets In 2021 appeared first on Bitcoin Magazine.
The Bitcoin versus Ethereum debate has been going on for years and waxes stronger as the market grows. Pitting the two top cryptocurrencies against each other has been one of the greatest pastimes for the market. However, not everyone subscribes to the school of thought that they are in competition. ARK Invest CEO Cathie Wood is known in the crypto space for giving her outlook on Bitcoin but Ethereum has been largely left out of the conversation. Wood is mostly known in the space for her bitcoin at $500,000 prediction, which she has stood by at various points. Related Reading | Why....
Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash more than 8% within days from over $11,000 to $10,100. At Press time, each bitcoin is trading for $10,695, up nearly 2% in the last 24 hours. McGlone, a senior commodity strategist at Bloomberg, based his arguments....
In the crypto industry, investors are always on the search for undervalued projects that have the greatest potential for increasing early investors’ returns. Finding these hidden gem initiatives just before noteworthy launches is an easy way to profit. Mars4 is one of these projects to keep an eye on, as the team behind it is working on exciting new releases that will be available the next month. These updates will boost the game’s economy and provide players with a sneak peek at the upcoming game. The community should expect the Mars4 project to acquire credibility as a....