Morgan Creek CEO Urges Buying the Dip as Bitcoin Drops

Mark Yusko, CEO of Morgan Creek Capital, has calculated that bitcoin carries a fair value of $105,000 when applying Metcalfe’s Law.

During an appearance on Bitcoin Magazine TV on Wednesday, the investment executive asserted that the premier cryptocurrency is currently “on sale,” making it an ideal moment to purchase.

Metcalfe’s Law—originally formulated by internet entrepreneur Robert Metcalfe—determines that a network’s value scales proportionally with the square of its user base. After reaching a peak of $126,080 in October 2025, bitcoin recently traded roughly 40% lower at $75,701.

Yusko explained, “So the fair value of bitcoin today, based on Metcalf’s law — Tim Peterson runs a model that tracks this really nicely — it’s about $105,000, but it’s $75,000.”

“Okay, so it’s on sale — you should accumulate things that are on sale.”

Furthermore, Yusko noted that bitcoin serves as the premier instrument for safeguarding capital, arguing that equities fail to serve as strong long-term investments.

“The problem is over a 30-year period, equity, 85% of companies disappear over 30 years. It’s amazing stat,” he remarked.

“What you really need is something to protect your value — and historically, for 5,000 years, there was one asset: gold.”

“Now we’ve got gold and bitcoin,” he stated.

Bitcoin initially began an upward climb in August following reports that the U.S. Treasury planned to at least double its liquidity-support buyback initiatives. While this news weakened the dollar, non-yielding assets experienced positive momentum.

Analysts have since noted the return of the debasement trade—a strategy where investors acquire assets to hedge against currency depreciation—which is expected to favor bitcoin.

Although this trading strategy gained significant traction last year and propelled bitcoin’s rally, the digital currency lost momentum after October as market participants shifted their focus toward artificial intelligence stocks.

What is bitcoin’s fair value according to Mark Yusko?

Mark Yusko estimates bitcoin’s fair value to be $105,000 based on Metcalfe’s Law.

What is Metcalfe’s Law?

Metcalfe’s Law states that the value of a network is proportional to the square of the number of users.

Why did bitcoin begin rallying in August?

Bitcoin rallied after news that the U.S. Treasury would at least double the size of its liquidity-support buyback operations.

How long has gold been used to protect value?

Historically, gold has been used as an asset to protect value for 5,000 years.

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