Bitcoin Is on Sale and Should Be Accumulated, Says Morgan Creek Capital CEO
Bitcoin Magazine Bitcoin Is on Sale and Should Be Accumulated, Says Morgan Creek Capital CEO Mark Yusko has said that bitcoin is undervalued, and when something is undervalued, you buy it. This post...
Mark Yusko has said that bitcoin is undervalued, and when something is undervalued, you buy it.
Morgan Creek Capital CEO Mark Yusko has said that bitcoin’s fair value is $105,000 based on Metcalfe’s Law.
Speaking on Bitcoin Magazine TV on Wednesday, the investment management firm said that now was the best time to buy the leading cryptocurrency as it is “on sale.”
Metcalfe’s Law, an observation by Internet entrepreneur Robert Metcalfe, states that the value of a network is proportional to the square of the number of users. Bitcoin touched a high in October 2025 of $126,080 but was recently trading 40% lower than that, at $75,701.
JUST IN: Morgan Creek Capital CEO Mark Yusko says Bitcoin's fair value is $105,000 based on Metcalfe's Law 🚀Bullish! pic.twitter.com/zSpYHOCD3L
“So the fair value of bitcoin today, based on Metcalf’s law — Tim Peterson runs a model that tracks this really nicely — it’s about $105,000, but it’s $75,000,” Yusko said.
Yusko went on to say that bitcoin was the best way to protect one’s value and that investing in companies wasn’t good for the long-term.
“The problem is over a 30-year period, equity, 85% of companies disappear over 30 years. It’s amazing stat,” he said.
“What you really need is something to protect your value — and historically, for 5,000 years, there was one asset: gold.”
Bitcoin started rallying in August following news that the U.S. Treasury would at least double the size of its liquidity-support buyback operations. The announcement hurt the dollar but non-yielding assets have benefited.
Since then, some experts have said that the so-called debasement trade — when investors buy an asset as a way to hedge against a currency losing value — is back and will benefit bitcoin.
The trade was hot last year, and helped bitcoin’s run, but the digital asset lost steam after October as traders turned their attention to stocks related to artificial intelligence.
Asanat Analysis — Why it matters
Mark Yusko's accumulation call reflects a common institutional positioning signal—when macro headwinds or volatility create perceived pricing inefficiency, asset allocators use public commentary to establish conviction narratives. This differs materially from retail sentiment, as family offices and fund managers typically front-run strategic purchases with thesis-setting commentary. The framing of 'undervalued' invokes traditional value investing logic onto a non-cash-flowing asset, which requires assumptions about future adoption curves, regulatory clarity, or macro debasement rather than intrinsic earnings.
The timing and source matter: statements from established institutional players like Morgan Creek (which manages billions and has long Bitcoin allocation history) carry weight in fund allocation meetings and LP reporting, potentially influencing capital flows at scale. However, conviction calls from prominent figures have preceded both multi-month rallies and extended consolidations depending on macro conditions. The statement signals confidence in current price levels but doesn't indicate whether accumulation is tactical (weeks) or structural (quarters), a critical distinction for positioning.