BTC $77K rally won't spark overvaluation fears like stocks: Bitwise CEO 
2024-11-10

Bitcoin hit new all-time highs this week and isn’t triggering overvaluation concerns among investors the way stocks typically do, suggests a crypto exec.
“Bitcoin is different,” asset manager Bitwise Invest CEO Hunter Horsley opined in a Nov. 9 X post, explaining that when a company’s stock “goes up, the multiple does up,” which essentially measures the company’s valuation and an element of its financial performance.
People see rising BTC price as ‘more likely to succeed’
For stocks, “at a certain point, people say, “this is overvalued” and become less interested until the price goes down,” Horsley explained.
However, without the same financial performance metrics, “when Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable,” Horsley reiterated.
“So it’s likely to go up even further,” he claimed.
At the time of publication, Bitcoin BTCUSD is trading at $77,310, representing a 13.52% increase over the past seven days, according to CoinMarketCap data.
During the United States presidential election trading week (Nov. 4–8), US spot Bitcoin ETFs recorded inflows totaling approximately $1.63 billion, according to Farside data.
Other Bitcoiners have shared a similar sentiment, with no fears of overvaluation as the asset continues to trade above its all-time high of $73,679 in March.
Pro-Bitcoin author and entrepreneur Robert Kiyosaki claimed he intends to buy another 27 Bitcoin, irrespective of the price, by November 2025. The Rich Dad, Poor Dad author stated in a Nov. 9 X post:
“I bought my first Bitcoin at $6000, and I continue to acquire at $76,000,” Kiyosaki added.
10T Holdings founder Dan Tapiero added, “It’s still perceived as an early-stage asset even though it is not.” In October, Tapiero made a call that Bitcoin would go to $100,000 regardless of who won the US election.
Positive momentum is expected to continue for Bitcoin
Meanwhile, capital market commentator “Infra” noted that a company’s equity valuation could be diluted further by raising capital through an At-the-Market (ATM) offering — something impossible with Bitcoin.
“When Bitcoin price goes higher, no one can make more. The only way to increase supply is to raise the price,” they stated.
Following Bitcoin breaking its all-time high on Nov. 5, analysts declared from a core analysis perspective, Bitcoin is showing no signs of being overheated.
On Nov. 7, Galaxy head of research Alex Thorn opined that “the market does not look overheated from a fundamental perspective.”
Crypto analysis firm Nansen analyst Aurelie Barthere stated, “Bitcoin crossing its all-time high with heavy volume is a clear signal of ongoing positive momentum following the elections.”