Bitcoin is currently trading well below its actual fair value and underscores that Bitcoin may have bottomed out. In an interview, the senior hedge fund manager said that BTC is currently undervalued by his firm’s standards, with a real value close to $40,000.
Bitcoin is currently selling for around $23,000, which in Scaramucci’s view is well below 70% of its true value. Scaramucci also analyzed Bitcoin’s bottom in this cycle, emphasizing that the well-known cryptocurrency is highly unlikely to drop below $17,500, which could be that area.
He also analyzed the acceptance, use cases, wallet size, wallet growth, and other aspects of this particular cryptocurrency, considering that his company metrics determined Bitcoin’s current fair market value to be close to $40,000.