Bitcoin & Gold Both Look Undervalued, More Americans Choose BTC

• Gold is now viewed as its least overvalued in more than three years, while Bitcoin price above $65,000 is being called “massively undervalued” by Tether adviser Gabor Gurbacs
• Bitcoin long-term holder supply has reached a new all-time high amidst this
• Nearly 49.6 million Americans now own Bitcoin compared with 28.8 million gold owners, showing the shifting preference for alternative stores of value

Bitcoin’s price has climbed back above $65,000, while gold’s price is trading close to record levels after months of sharp swings. Both these assets look expensive. But a notable number of institutional investors and market veterans are reaching the opposite conclusion, that these assets may be undervalued. Fresh fund manager surveys, on-chain data, and changing market structure suggest the recent rally may tell only part of the story.

Also Read: Strategy Raises $730M but Buys No Bitcoin as ETF Inflows Reach $727M in Five Days

Gold & Bitcoin Price Are Rising, but Analysts Still See Room to Run

Bank of America’s recent Global Fund Manager Survey found gold is viewed as the least overvalued it has been in more than three years. The June survey, covering fund managers overseeing roughly $540 billion in assets, showed sentiment toward the precious metal shifting after its correction from January highs. Gold price has since rebounded toward the $4,000 mark. Currently, the metal sits at $4,116 following a 1.11% rise over the past day. Meanwhile, many investors see its pullback as a reset rather than the end of its longer-term trend.

Bitcoin, popularly deemed “digital gold,” seemed to be drawing similar arguments. Tether adviser Gabor Gurbacs recently described Bitcoin as “massively undervalued” around the $65,000 price level. He pointed out that today’s market looks nothing like the leverage-heavy environment that pushed prices to previous cycle highs.

This view seems to be reflected in blockchain data as well. According to CoinGlass, Bitcoin’s long-term holder supply has reached a new all-time high. This means a record amount of BTC now sits in wallets associated with long-term investors. Rather than distributing coins into the latest rally, experienced holders continue to accumulate or hold their positions.

Also Read: Balance Coin Crash Wipes Out 99% After 42DAO Exploit Triggers Algorithmic Stablecoin Depeg

What Do Americans Think About the Bitcoin vs Gold Debate?

The narrative around Bitcoin and gold has become interesting and is moving beyond price. Research from River shows notable data around American Bitcoin ownership. Roughly 49.6 million Americans own Bitcoin, compared with 28.8 million who own gold. This shows how cryptocurrencies have moved beyond their early adopter base while continuing to compete with traditional stores of value like gold.

Currently, professional money managers appear to be growing more comfortable with gold after its correction. Amidst this, Bitcoin’s strongest holders continue adding to positions instead of heading for the exit.

Also Read: Trump Tariffs Hit Canada at 50% Under a Law Never Used Before, and 60 Countries Are Next