Bitcoin News Today: Bitcoin's Store-of-Value Discount vs Nasdaq's Earnings Premium

Bitcoin Trades at Notable Discount to Nasdaq Valuation

Nasdaq Inc. (NASDAQ:NDAQ) has emerged as a standout performer in the third quarter of 2025, with earnings and revenue figures exceeding expectations. The financial services giant reported third-quarter revenue growth of 15% year-over-year to $1.315 billion, surpassing the analyst consensus of $1.297 billion. Adjusted earnings per share (EPS) of 88 cents also beat the 85-cent forecast, according to Benzinga. Analysts responded by upgrading price targets: TD Cowen raised its target to $96 from $94, while Barclays lifted its to $109 from $108, reflecting confidence in Nasdaq's trajectory. Despite these bullish signals, Nasdaq shares fell 2.5% to $88.12 on Wednesday.

In contrast, Bitcoin (BTC-USD) has traded at a significant discount relative to Nasdaq's valuation. Nasdaq's price-to-earnings (P/E) ratio of 34x aligns with peers like MSCI Inc. (MSCI) and S&P Global (SPGI), which trade at 35x and 36x, respectively, according to a Seeking Alpha analysis. This suggests Nasdaq is fairly valued based on historical and peer comparisons. Meanwhile, Bitcoin's valuation remains anchored to its role as a store of value, with institutional investors increasingly favoring it over altcoins. A TradingView report noted a nearly $800 billion gap between Bitcoin and the rest of the crypto market, driven by shifting retail and institutional capital flows.

The institutional landscape is also reshaping. Ethereum (ETH-USD) surprised analysts by outpacing Bitcoin in Q3 2025 institutional inflows, with $9.6 billion compared to Bitcoin's $8.7 billion, as reported by Coinfomania. This shift reflects Ethereum's appeal for yield generation through staking and regulatory clarity, though Bitcoin retains its dominance as a hedge asset. Bitcoin's institutional narrative, however, continues to draw capital from altcoins, leaving retail investors sidelined.

Real-world adoption is gaining momentum. Rumble, a video-sharing platform, announced plans to launch Bitcoin tipping for its 51 million monthly active users in collaboration with Tether, according to FinanceFeeds. The feature, expected to go live by December, could expand Bitcoin's utility in creator economies. Meanwhile, SpaceX moved $133 million in Bitcoin across wallets, signaling ongoing institutional engagement, as detailed by CryptoNews. Tesla, another Musk-led company, holds 11,509 BTC valued at $1.27 billion, underscoring corporate confidence in the asset.

Bold price predictions for Bitcoin abound. BitMine's Tom Lee suggested the cryptocurrency could reach $1.6–$2 million if it matched gold's total market capitalization, while Michael Saylor forecast $21 million per Bitcoin in 21 years, according to Yahoo Finance. However, analysts remain skeptical, noting such valuations would require unprecedented global financial shifts.

Nasdaq's strong fundamentals and Bitcoin's institutional push highlight divergent paths in the market. While Nasdaq's valuation remains stable, Bitcoin's potential to close its discount depends on broader adoption, regulatory clarity, and macroeconomic factors.