1 month ago
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Key Takeaways
- Grayscale’s Zach Pandl says Bitcoin is cheap, but not at historic-extreme levels.
- He sees the Clarity Act as the single biggest catalyst for ending crypto winter.
- He’s structurally bullish on Ethereum as the leader in tokenization.
- He calls AI crypto the biggest asymmetric opportunity Grayscale sees.
- Grayscale is an asset manager, so its bullish framing carries that context.
Speaking with Cointelegraph, Zach Pandl made the case that Bitcoin is cheap but not screaming, that one piece of legislation could end the downturn, and that the most asymmetric opportunity isn’t Bitcoin at all.
Bitcoin: Cheap, but Not “Close Your Eyes and Buy”
Pandl’s read on Bitcoin is nuanced. On-chain valuation indicators confirm it’s cheap relative to its long-term average, but he draws a careful distinction: cheap isn’t the same as exceptionally cheap. After the FTX collapse, those same indicators flashed extreme undervaluation. Today they’re below average, not ...
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