I just saw some interesting data about what institutional investors think about Bitcoin. It turns out that recently a survey was conducted among large and independent investors, and most of the institutional (71%) believe that Bitcoin is undervalued at the price it was a few months ago, around $85k a $95k. Even independent investors shared that view at 60%, so there was quite a consensus that the price did not reflect the true value.

The most interesting part is that these folks were not scared. 80% of institutional investors said they would hold their positions or even buy more if Bitcoin dropped another 10%. Additionally, more than 60% have increased or maintained their crypto bets since October. In other words, while many were scared, big investors saw opportunity in what they considered undervalued.

Right now, the price is much lower than it was back then, so the question is whether these investors see this as even more undervalued or if their perspective has changed. What’s clear is that at that time, there was a lot of confidence that Bitcoin was not properly valued. Some analysts also mention that potential movements in interest rates could help risk assets like cryptocurrencies, so the macro context also matters.