Lightspark CEO David Marcus claimed that Bitcoin remains “severely undervalued” compared to gold, suggesting the cryptocurrency could reach $1.3 million if it matched gold’s market capitalization.
“I still feel Bitcoin is severely undervalued, especially if you compare it to gold,” Marcus said during a Monday interview with Bloomberg, adding that Bitcoin would trade at $1.3 million per coin at gold parity.
The statement came as Bitcoin touched a fresh all-time high above $126,000 on October 7, while tokenized gold assets simultaneously crossed the $3 billion market cap threshold for the first time.
Marcus, who previously led Meta’s failed Libra cryptocurrency project, argued that Bitcoin’s utility as a neutral settlement asset for global payments has not been priced into current valuations.
Lightspark CEO David Marcus | Source: Bloomberg
The Lightspark founder emphasized Bitcoin’s role as foundational infrastructure during the interview, comparing it to the internet’s architecture.
“Bitcoin is the internet of money,” Marcus stated, explaining that his company bought Bitcoin three years ago to facilitate transactions and support stablecoins on the network.
Marcus acknowledged the improved regulatory conditions under the Trump administration compared to previous years, when roadblocks had stifled innovation across the crypto industry.
He noted that major financial institutions are now embracing Bitcoin through exchange-traded funds, which could be seen as the beginning of an irreversible shift towards mainstream adoption.
“The horse has left the barn,” Marcus said, describing Bitcoin as the most accepted and trusted digital asset globally.
His firm entered Bitcoin during the previous bear market, giving Lightspark an advantageous cost basis as the asset climbed nearly 100% over the past year.
Lightspark specializes in building technologies on Bitcoin’s Lightning Network, allowing faster and cheaper cross-border payments compared to traditional alternatives.
Marcus described his company’s work facilitating peso transfers to Mexico 24/7 at a cost below conventional remittance services as an example of Bitcoin’s practical applications.
The tokenized gold market reached $3.03 billion in capitalization on Tuesday as physical gold briefly topped $4,000 per ounce for the first time ever.
Gold Coins Market Cap | Source: CoinGecko
