Bitcoin Is Worth $105,000, Mark Yusko Says—But It'll Take Time

Morgan Creek Capital founder Mark Yusko says Bitcoin’s (CRYPTO: BTC) fair value sits at $105,000, yet he expects the climb there to stay slow rather than explosive.

Why Yusko Thinks Bitcoin Just Flipped Bullish

Yusko told the New Era Finance podcast Tuesday that Bitcoin has shifted from a distribution pattern, where sellers dominate, into an accumulation pattern marked by higher highs and higher lows.

He pointed to a double bottom near $60,000 earlier this year, formed on rising volume, as the first real signal that selling pressure had exhausted itself.

Bitcoin’s bear markets have historically lasted almost exactly 364 days from peak to trough across three prior cycles, Yusko said, a pattern tied to block counts rather than calendar years.

That timeline pointed to early October as a potential final low, and a short pullback into the low $70s played out before the rally resumed.

Why Yusko Calculates Bitcoin’s Fair Value at $105,000

Yusko uses Metcalfe’s Law, which values a network based on its number of users and connections, to estimate Bitcoin’s fair value. 

He pegs that figure at roughly $105,000 today, expecting it to grow 7% to 8% annually as adoption increases. 

Last October, he estimated fair value sat closer to $85,000 to $90,000 before Bitcoin overshot to $125,000, which he called a predictable byproduct of human psychology rather than a rational move.