Digital Chamber of Commerce CEO Perianne Boring told CNBC yesterday that correlation models place Bitcoin’s intrinsic value between $50,000 and $100,000
Perianne Boring, founder and president of the Digital Chamber of Commerce, is the latest prominent voice arguing that Bitcoin remains undervalued despite ongoing cryptocurrency market volatility.
In an interview on CNBC’s Squawk Box on Monday, Boring encouraged investors to focus on Bitcoin’s underlying fundamentals rather than short-term price movements.
Multiple factors support her assessment
Boring said Bitcoin’s fundamentals are showing real strength, which suggests the asset is mispriced. She noted that Bitcoin is currently growing at a rate that outpaces earlier technological booms, such as the internet during the late 1990s and early 2000s.
She also pointed to other aspects of the Bitcoin ecosystem—like its rising hash rate, which is currently near record highs—as additional indicators of unrecognized value.
Moreover, Boring highlighted that professional crypto investor models that strongly correlate with Bitcoin are currently valuing the asset in the $50,000 to $100,000 range.
“There are a number of models that professional crypto investors are using today. Right now, they’re all between $50,000 and $100,000 per Bitcoin. These models are correlated at over 90%, and what they’re telling us is that Bitcoin is undervalued,” she said.
The CEO also explained that the current environment—where market prices can swing up to 50%—is consistent with expected behavior for these markets.
“Volatility is not necessarily a bad thing, and it’s normal to see 30–50% volatility in crypto markets in a given month. Markets are behaving as expected,” Boring added.
Don’t accept ‘zero’ as an outcome
With recent market declines and critics suggesting Bitcoin could fall to zero, Boring rejected those claims as inaccurate, arguing that Bitcoin’s fundamentals would prevent such an outcome.
“…despite the price pullback, the network fundamentals are as strong as ever,” she said.
Although investors may have experienced a difficult start to the year, strategists remain optimistic about the world’s leading cryptocurrency. Market analysts maintain that volatility is a routine feature while Bitcoin continues its growth path.
In April, Boring predicted on social media that Bitcoin could reach $288,000 before the end of that year, noting at the time that the projection was based on the stock-to-flow model.
During the same interview, she also suggested that Bitcoin would continue to capture value from gold, projecting that by 2029 one Bitcoin could be equivalent to 10,000 ounces of gold.