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....
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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....
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