5/1/25 Roundup: Bitcoin Is Severely Mispriced

Bitcoin Is Severely Mispriced

At ~$96,000, bitcoin remains one of the most profoundly mispriced assets in the world. Not because its price hasn’t appreciated—it has. Not because it’s been ignored—it hasn’t. But because despite years of development, adoption, and education, it is still not understood.

And on a risk-adjusted basis, bitcoin has never been cheaper.

Let’s take stock of where we stand.

The U.S. government has established a Strategic Bitcoin Reserve, a historic signal of legitimacy and long-term adoption. At the state level, several legislatures are advancing their own reserve bills, providing further public-sector validation.

Meanwhile, key figures in the Trump cabinet and family—many of whom oversee monetary and regulatory policy—have emerged as vocal bitcoin supporters, signaling their intent to lean heavily into sound money principles.