Bitcoin (CRYPTO: BTC) remains in accumulation territory, according to both market models and institutional voices, as former PayPal president David Marcus said the cryptocurrency is “still severely undervalued” and could eventually match gold’s $1.3 million equivalent value per coin.
Former PayPal Chief Says Bitcoin Is ‘Still Early’
Speaking live on Bloomberg on Oct. 7, Marcus said Bitcoin’s long-term potential has barely been priced in, especially when compared to gold’s market capitalization.
“If Bitcoin was worth as much as gold, it would be $1.3 million per Bitcoin,” Marcus said.
“I think it’s just a matter of time. The utility phase of Bitcoin as a neutral settlement network and asset for global payments hasn’t been priced in at all.”
His remarks come as Bitcoin trades around …