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Bitwise Analyst Pegs Bitcoin’s Fair Value at $197,000
Bitwise director André Dragosch told Bitcoin Magazine that his money supply model indicates Bitcoin has a fair value of $197,000.
02/11/2026 14:436 min read
André Dragosch from Bitwise discussed with Spencer Nichols Bitcoin’s habit of moving early when global liquidity is about to shift, describing it as a canary in the mine for liquidity. His model of the world’s money supply suggests Bitcoin’s fair value is $197,000 currently. They also examined recession risks, what the Fed might do next, and how capital leaving precious metals could help Bitcoin align with the money supply.
The conversation was hosted by Spencer Nichols from Bitcoin Magazine, featuring André Dragosch, Director and Head of Research at Bitwise for Europe.
Chapter timestamps cover: 00:00 French bond yield increases; 03:13 global financial condition tightening; 08:04 the dollar and AI bubble’s impact on Bitcoin; 12:45 contagion risks in AI credit; 17:23 Bitcoin as a liquidity canary; 21:21 the Fed’s problem and debt load; 25:42 China’s deceleration and recession danger; 30:18 whether Bitcoin will separate from stocks; 33:47 Bitcoin’s $197,000 fair value; 37:43 Bretton Woods III and Bitcoin as global money; 42:07 Bitcoin’s reserve currency option; 46:48 Bitcoin-collateralized credit and bank strategy.
The opinions voiced in this show belong to the participants and do not necessarily reflect the official stance of BTC Inc., Bitcoin Magazine, or any affiliates. This content is supplied for informational and educational use only and should not be taken as investment, legal, tax, or accounting guidance. No part of this show is a solicitation, recommendation, endorsement, or offer to buy or sell securities or financial instruments. Viewers are advised to consult their own advisors before making financial or business decisions.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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