Bitcoin’s Current Value

Bitcoin is deemed cheap by Adam Back, who remarked on the current price fluctuations of the leading cryptocurrency.

Back noted that four years ago, Bitcoin reached a peak of $69,000, a peak that occurred before the introduction of exchange-traded funds by financial giants like BlackRock and the establishment of BTC as a strategic reserve for the United States, which just occurred in the last 24 hours. Currently, Bitcoin is trading at $89,000, which is only 28% higher than its all-time high in 2021.

> “Bitcoin is cheap now.”
> — Adam Back (@adam3us) March 7, 2025

Despite the price dip, Back remains optimistic, and he shares this sentiment with others like Max Keiser, who believes that Bitcoin will soon see a significant revaluation. In fact, he argues that it will happen in the coming hours and within this very month.

Samson Mow, another Bitcoin advocate, goes even further, suggesting that Bitcoin under $1,000,000 is still considered cheap.

The concern about when Bitcoin will no longer be seen as cheap is open to interpretation, but as of now, it is perceived as such. Various external factors, particularly political ones, have an impact on its price fluctuations, perhaps like never before.

Is Bitcoin Cheap or Not?

The answer depends on who you ask. Bitcoin enthusiasts, or maxis, regard price dips not as failures but as “discounts.” They interpret volatility as opportunity. Given its long-term upward trend since 2009, such optimism may well be warranted.