Just saw this take from a Keyrock exec saying Bitcoin's actually undervalued right now. Interesting perspective, especially with all the noise in the crypto asset management market lately. They're calling this a 'transition year' which honestly tracks with what I've been observing.

The whole crypto asset management market seems to be shifting gears. You've got these institutional players starting to take Bitcoin more seriously, and the narrative around valuation is changing. Not just retail FOMO anymore - there's actual conviction from people managing serious capital.

They're basically saying if you're not already positioned, the crypto asset management market is where the real opportunities are emerging. Makes you wonder if we're still early on the valuation curve or if this is just another cycle talking point. Either way, the transition year angle seems legit - feels like something's definitely different this time around.