Morgan Creek CEO Says Bitcoin Is Undervalued at Current Price

Morgan Creek Capital CEO Mark Yusko has stated that Bitcoin's fair value is $105,000, citing Metcalfe's Law, and described the current price range as an accumulation zone. According to a report by blockchain media Bitcoin Magazine on September 16 (local time), Yusko said Bitcoin is currently discounted and represents the best time to buy.

Yusko referenced Metcalfe's Law, which posits that a network's value is proportional to the square of its user base. He also cited economist Tim Peterson's tracking model, noting that while Bitcoin's fair value stands at approximately $105,000, the actual price hovers around $75,000. 'It's good to accumulate discounted items,' he added.

The price gap aligns with recent market corrections. Bitcoin rose to a high of $126,080 in October 2025 before falling to around $75,701 recently, trading approximately 40% below its peak. Yusko interprets this range not as simple weakness but as a long-term accumulation opportunity.

Yusko also positioned Bitcoin as a store of value, stating that over 30 years, 85% of listed companies disappear, making it difficult to preserve asset value through individual stock investments alone. 'What's truly needed is an asset that preserves value,' he said, noting gold has historically served this role. He added that Bitcoin now joins gold in fulfilling this function.

Market context also ties into bullish arguments for Bitcoin. Since August, the U.S. Treasury's expanded buyback operations—doubling liquidity support measures—have contributed to Bitcoin's rise. The announcement weighed on the dollar but was favorable for non-interest-bearing assets like Bitcoin.

As a result, market participants have noted renewed interest in value-preserving asset purchases as a hedge against currency devaluation risks. This trend has been viewed favorably for Bitcoin, though it previously saw significant gains from such trades last year before shifting focus to AI-related stocks in October 2025.

Yusko's comments highlight the view that Bitcoin is undervalued relative to its network value after recent corrections. Future price movements will likely depend on dollar trends, liquidity conditions, and whether investor funds return to digital assets.