09-28-2026 
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The views expressed in this article are those of the author and do not necessarily reflect the position of CoinGeek.
TL;DR: BSV’s culture has long prioritized spending and building over holding, leaving users with few practical options for securely storing the coin. September 2026 brought new options, including PiWallet’s air-gapped hardware wallet and Yours Wallet’s USB security-key feature. At the same time, developments in digital identity and tokenized securities highlight use cases BSV is positioned to support. Despite trading at about 4% of its 2021 all-time high, BSV is presented as potentially undervalued as storage options improve and demand grows for scalable, permissionless infrastructure.
Key Takeaways:
- BSV’s ecosystem focused on spending and building rather than providing practical ways for users to securely hold the coin.
- PiWallet and Yours Wallet introduced new options for securely storing or protecting BSV.
- Sigma Auth and developments in tokenized securities highlight Bitcoin-based infrastructure for digital identity and financial markets.
- BSV remains significantly undervalued despite its current market value and capabilities.
I have spent the better part of a decade telling people to stop staring at the chart. Not because the price doesn’t matter, but because I firmly believe that BSV won’t behave like other assets in the crypto economy because of incentives other than utility. In short, I really think we need to earn the fair value of BSV by creating legitimately organic demand in ways that other chains don’t need to. So, we need to spend it on micropayments, put our data on the chain, and build the thing that an enterprise cannot buy anywhere else, because nothing else does it this fast or this cheaply. That is the BSV sermon, and I am usually the guy in the pulpit.
But this has turned into a bit of its own cult: “We don’t talk about price.”
So, at the risk of annoying some of my friends, I think BSV is undervalued, I think it has been undervalued for a long time, and I think part of the reason is that our own culture never gave anybody a decent way to just hold the stuff.
Every flagship product in BSV was built to spend: the wallets are tuned for tipping, posting, minting, and moving data, and the tooling is for tokens, overlays, and indexers. That stuff IS cool, and I will keep saying so on every stream until somebody takes the microphone away!
But the culture was also shaped by what we did not have.
- No staking yield to chase. No DEX, no lending protocol, no yield farming, no DeFi, so there’s no real reason to lock up BSV. In the rest of crypto, “staking” is the story that keeps the bag in the bag. We never had the story, so we never manufactured the bag holders.
- No simple cold storage. For years, if you asked where to put a big stack of BSV, the answer was a paper wallet, a prayer, and a browser extension you hoped nobody phished.
- No best practice for saving. Ask 10 BSV veterans how to hold a serious position for 10 years, and you get 10 answers and at least three arguments.
- No easy on-ramp for normal people. Binance, ShapeShift, and Kraken delisted BSV in April 2019 after legal threats against Hodlonaut and Peter McCormack. Robinhood (NASDAQ: HOOD) ended support on January 25, 2023, and market-sold whatever its customers still had. Coinbase (NASDAQ: COIN) has never listed it. Your uncle, who bought BTC on his phone in 2021, could not have bought BSV on that phone if he wanted to, and he did not want to, because nobody he trusted had told him why he should…
We told the world to build and forgot to tell it how to save. Maybe that is its own culture problem.
What changed this month
Two receipts, both from September 2026.
On September 8, Jon Southurst posted a five-minute first look at the PiWallet.
His opening line was the whole history of the problem: “An airgapped, cold storage hardware wallet for BSV? People always ask when we’re going to get one.” The PiWallet is a homebrew, open-source project built on a Raspberry Pi with a screen and a camera. No Wi-Fi, no Bluetooth, no Ethernet. A companion web app on your phone builds the unsigned transaction; you ferry it to the Pi via animated QR codes; the Pi re-verifies every input against block headers shown on its own screen; and then it signs. Your seed phrase only comes out for setup or recovery, never to send. There is no signed firmware, no proprietary hardware, and no update server that can drop the coin next quarter. Buy the kit or build it from the source at piwalletsv.com.
A Raspberry Pi Zero in a 3D-printed case is not exactly a Ledger keynote. It is also exactly the point, because nobody can delist a device you built yourself!
On September 16, Yours Wallet shipped v5.1.0 with a USB Security Key.
Yours is a browser-extension hot wallet. The new feature turns any USB or external drive you already own into a physical second factor the wallet requires alongside your password, with an encrypted backup of the wallet stored on the drive. In their words: “Password alone no longer unlocks your wallet. Password plus your drive does.” That is less cold storage and more a hot wallet that now needs a thing in your hand as well as a thing in your head, and the keys do not live on the stick the way they would on a hardware wallet. The GitHub releases name who wrote it and tells you how to verify the build. Disclosure: Yours is built by people in my orbit at Open Protocol Labs, so weigh my praise accordingly.
Neither one is the final answer, but for the first time in years, the answer to “how do I hold this safely” got shorter instead of longer.
The asymmetry nobody is pricing
On September 23, in her penultimate week as a Securities and Exchange Commissioner, Hester Peirce told SIFMA’s Digital Assets Conference: “Tools exist to limit the information individuals need to provide and the number of entities to which they must provide it. What is missing is the regulatory framework that would allow and encourage their adoption.” She went on to describe attribute-based credentials, in which a customer is verified once by a single trustworthy institution and is then relied on by every institution after it. The whole speech is on sec.gov.
Heck of a thing to hear from inside the building!
I posted about it the same afternoon.
Sigma Auth already does what she described: self-sovereign identity on Bitcoin, keys that stay in your browser, and verified account facts turned into credentials your wallet holds and presents only when you choose, over standard OAuth 2.1. Full disclosure, again: I am a founder of GorillaPool and Open Protocol Labs, and Open Protocol Labs builds Sigma Auth. Discount me as a shill, if you must, but then read her speech and the Sigma docs side by side and tell me which one describes a product and which one describes a wish.
Same shape on the trading side. The SEC’s September 17 Innovation Exemption lets tokenized stocks trade through smart contracts that must be “auditable, public, and deployed on a public, permissionless distributed ledger.” Nasdaq has SEC approval to trade eligible securities in tokenized form and is set to launch 23-hour trading on December 6, 2026, which Nasdaq CEO Adena Friedman calls “our first step” toward an always-on market. Robinhood Chain went live in July as a layer-2 on Arbitrum’s stack, selling tokenized debt wrappers in 120-plus countries. Americans need not apply. I wrote Robinhood an open letter about this in August, and the argument has not moved an inch: A layer-2 is a queue for someone else’s settlement, and everyone is arriving at the always-on market with a compromise in hand.
BSV is Bitcoin fully realized, the scalable cash system the whitepaper promised. It has the throughput, the UTXO token standard, and the identity rail that an SEC Commissioner just described from the podium. And the people who will someday set the price of BSV, by and large, do not know any of that yet, which is the asymmetry I have been living inside for years.
If it is so undervalued, why has the price gone in one direction for 5 years?
Because almost nobody could buy it, and almost nobody was told why they should.
BSV is $21.39 as I write this. The all-time high was $489.75 on April 16, 2021, and the all-time low of $10.49 came three months ago, on June 25, 2026. It trades at about 4% of the high, with a market cap of around $430 million at rank 122, while BTC’s market cap is roughly 3,900 times bigger.
That is what five years of no on-ramp, no cold storage, no yield story, and a hostile press cycle does to a coin whose entire pitch was “use it, don’t hold it.”
Now, I will not tell you to buy anything, because I am not a licensed anybody, and “buy this, invest in that” is a trap I have watched swallow smarter people than me… So I will say what I personally think instead, and I have thought it for a long time: BSV is undervalued.
This asymmetry cannot last forever. The information reaches the people who create demand, always, eventually, and this month it started arriving as a hardware wallet, a second factor, and an SEC speech. When it gets there, everyone who was embarrassed to hold BSV all these years will look like time-traveling geniuses.
And then there will be everyone else.
FAQs:
Why is BSV considered undervalued?
BSV is presented as undervalued because it has historically lacked practical ways to hold it, while its ecosystem focused heavily on spending and building. Its capabilities in scalability, identity and tokenization are also presented as being underrecognized.
What is PiWallet?
PiWallet is an open-source, air-gapped hardware wallet for BSV built on a Raspberry Pi. It has no Wi-Fi, Bluetooth or Ethernet and uses animated QR codes to transfer unsigned transactions between a phone and the device before the Pi verifies and signs them.
What problem do the new wallet tools address?
They provide new ways to securely hold BSV, addressing the ecosystem’s longstanding lack of simple cold storage and established practices for saving larger amounts of BSV.
What did SEC Commissioner Hester Peirce say about digital identity?
Peirce said tools can reduce the information individuals need to provide and the number of entities they need to provide it to. She described attribute-based credentials, where a customer is verified by one trustworthy institution and can then be relied upon by other institutions.
Why has BSV’s price declined for years?
The decline is attributed to limited access to BSV, the lack of simple cold storage and a lack of a yield narrative, alongside a hostile press cycle.
This opinion piece is published to encourage discussion. The author’s views are their own and do not constitute legal, procurement, or policy advice, nor do they represent the positions of CoinGeek or its partners.
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