In the recent Crypto Long & Short newsletter, Dovile Silenskyte, director of digital assets research at WisdomTree, presents a compelling argument that Bitcoin is currently 26% undervalued compared to gold. This analysis shifts the narrative from viewing Bitcoin merely as a risk asset to recognizing it as a monetary asset that competes with gold for the same investment category. As of March 31, 2026, the actual bitcoin/gold ratio stands at 15.6, while the model fair value is 21.1, indicating significant room for growth. The newsletter also highlights trends in centralized exchanges, revealing systemic vulnerabilities despite improvements in quality and transparency. The CoinDesk 80 index shows Bitcoin's 5.7% gain month-to-date, outperforming major asset classes, suggesting a broader rally in the crypto market. Institutional players are increasingly investing in digital assets, further solidifying the asset class's position in the financial landscape.