Tether advisor Gabor Gurbacs said this week that Bitcoin is 'massively undervalued' at its current price around $65,000. In a statement posted online, Gurbacs argued that the present market structure bears little resemblance to the leverage-heavy peak seen in 2021.
The undervaluation argument
Gurbacs didn't mince words. He called Bitcoin 'massively undervalued' at $65,000, a claim that cuts against the cautious tone many analysts have taken since the asset pulled back from its all-time highs earlier this year. The Tether advisor's view is that the current price doesn't reflect the underlying demand and network fundamentals.
What's different this time
Gurbacs specifically contrasted today's market with the 2021 top. That rally, he said, was driven by excessive leverage and speculative froth. This time around, the structure is healthier — less debt, more organic buying from long-term holders and institutional players. He didn't provide specific data, but the implication is clear: a $65,000 Bitcoin today is not the same animal as a $65,000 Bitcoin four years ago.
Bitcoin has been trading in the $65,000 range for much of July, struggling to break decisively higher. Gurbacs' comments add a bullish voice to a market that's been searching for a catalyst. Whether his assessment proves correct will depend on whether the structural differences he cites actually hold up under pressure.
