As gold and silver smash through record highs, a fierce valuation battle is erupting in the crypto world â and at the center of it stands Bitcoin.
According to prominent investor Mike Alfred, the worldâs largest cryptocurrency isnât just undervalued.
Itâs dramatically mispriced.
While traditional safe havens attract capital amid global volatility, Alfred argues Bitcoinâs true value is being ignored â and the gap between price and reality has grown dangerously wide.
đ âI Re-Underwrote Bitcoin Using 46 Modelsâ
In a widely discussed post on X, Alfred revealed that he spent an entire night reassessing Bitcoinâs valuation using 46 different pricing models â ranging from macro comparisons to scarcity-based frameworks.
His conclusion?
đ Bitcoinâs fair value sits near $172,000, far above current market levels.
âI stayed up all night and re-underwrote Bitcoin using 46 different methods,â Alfred wrote.
âThe discrepancy between BTC and metals is extreme.â
The timing of his claim is no coincidence. As gold and silver surge to all-time highs, Alfred believes Bitcoinâs lagging price reflects a disconnect â not a weakness.
âď¸ The Valuation Clash: Intrinsic Value or Macro Asset?
Not everyone agrees.
One critic pushed back, arguing Bitcoinâs intrinsic value should be tied to network security costs, not macro asset comparisons.
âThe IV of Bitcoin is the cost to secure the network â around $67,000 right now.â
Even accounting for speculative premiums, the user argued, Bitcoinâs implied value still falls far short of Alfredâs $172,000 estimate.
Alfred didnât mince words in response:
âYou used one method. I used 46. We are not the same.â
The exchange highlights a growing divide in crypto valuation thinking â between engineering-based fundamentals and macro asset frameworks that compare Bitcoin to gold, silver, and global monetary systems.
đĽ Gold and Silver Arenât Just Rising â Theyâre Accelerating
Fueling the debate is the explosive rally in precious metals.
According to CCN analyst Victor Olanrewaju, goldâs surge isnât notable just for breaking records â but for how itâs doing so.
âThe headline isnât the new high,â Olanrewaju said.
âItâs the path itâs taking to get there.â
Volatility data supports the idea that gold may be entering a fast-moving phase rather than peaking.
The Gold Volatility Index (GVZ) recently climbed near the 30 level, a zone historically associated with sharp, momentum-driven moves.
In other words: gold is no longer creeping higher â itâs charging.
đ Bitcoin Bulls Arenât Backing Down
Despite Bitcoinâs recent struggles, Alfredâs conviction hasnât wavered.
On Christmas Day, he made a bold declaration:
If Bitcoin fails to reach $1 million by the end of 2033, he says he will liquidate his entire position and delete his X account.
Days later, he doubled down, claiming that traders he considers âthe worstâ had sold their Bitcoin to chase silver instead.
âWhat happens next will be obvious to anyone who isnât a vegetable.â
Blunt? Yes.
But Alfred isnât alone.
đ The $1 Million Bitcoin Club Keeps Growing
Some of the most influential voices in finance and crypto share similar long-term views:
Tom Lee (Fundstrat): Repeatedly forecasts Bitcoin crossing $1 million
Michael Saylor (Strategy): Calls Bitcoin âdigital propertyâ destined for seven figures
Samson Mow (Pixelmatic): Says Bitcoin consistently moves faster than expected
âSince getting into Bitcoin,â Mow wrote,
âeverything always happens faster than I expect.â
đŽ Mispriced or Misunderstood?
As gold and silver capture headlines, Bitcoin finds itself at a crossroads â dismissed by skeptics, defended by believers, and dissected by competing valuation models.
Whether Alfredâs $172,000 fair value proves prophetic or premature, one thing is clear:
đ The debate over what Bitcoin is truly worth is far from settled.
And if history is any guide, Bitcoin tends to answer its critics â not with arguments, but with price.