MarketWise founder Porter Stansberry says Bitcoin may be trading far below its fair value, arguing that risk capital has moved into artificial intelligence and semiconductor stocks while leaving the world’s largest cryptocurrency overlooked.
Speaking on a podcast with Anthony Pompliano, Stansberry said his Bitcoin valuation model places the asset’s average price at $134,000 today.
“The mispricing today in Bitcoin is as large as I have ever seen before in the model,” Stansberry said, adding that he sees the current setup as one of the strongest Bitcoin opportunities in years.
Bitcoin was trading near $73,874 on May 29, after touching an intraday low of about $72,532, according to CoinMarketCap data. That places the spot price roughly 45% below Stansberry’s model-implied level.
Stansberry’s argument rests on a market rotation thesis.
He said Bitcoin has been “contained” because risk capital has been flowing into technology stocks, especially Nvidia and memory-chip names, rather than crypto.
That view comes as AI-linked equities continue to dominate investor attention.
Nvidia was trading near $216.57 on May 29, with a market cap above $5.28 trillion, reflecting the scale of investor demand for AI infrastructure exposure.
Memory-chip stocks have also surged.
Micron briefly crossed $1 trillion in market value earlier this week, as AI demand powered a rally in semiconductor stocks. The S&P 500 and Nasdaq also hit record closing highs on AI optimism.
That backdrop supports Stansberry’s claim that speculative and growth-oriented capital has been absorbed by the AI trade.
But Bitcoin’s underperformance has not happened in isolation.
The asset has also faced pressure from spot Bitcoin ETF outflows. Farside Investors data showed a series of daily net outflows from U.S. spot Bitcoin ETFs in late May, including $648.6 million on May 18, $331.1 million on May 19, and $105.2 million on May 22.
Bitcoin recently traded near $73,000 level as crypto ETF outflows topped $2.5 billion over two weeks, while geopolitical tensions and liquidations weakened sentiment across digital assets.
Still, model-based fair value estimates are not market prices.
Bitcoin has historically traded through large valuation gaps in both directions. It can remain below bullish model estimates for long periods, especially when liquidity tightens or leveraged demand exits the market.
That caveat matters because Stansberry’s call is not a consensus forecast.
It is a high-conviction investor view at a time when Bitcoin’s market structure is being shaped by ETF flows, institutional positioning and competition from AI equities for the same pool of risk capital.
The news value is not simply that Stansberry is bullish on Bitcoin.
It is that a long-time financial publisher is framing Bitcoin’s current weakness as a capital-allocation dislocation rather than a failure of the investment thesis.
If that view proves correct, Bitcoin’s recent underperformance may be temporary.
If ETF outflows persist and AI stocks continue to absorb risk appetite, however, the gap between Bitcoin’s market price and Stansberry’s $134,000 model value could remain open longer than bulls expect.
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