What is a BTC worth?

Say I am an institutional investor, and I want to assign some portion of my fund to BTC.

I want to compare BTC to investment in company XYZ, which has robust financial data, makes products, etc. Based on analysis of the market and this company, If I find XYZ has a lifetime value higher than what the market consensus is, it could be a smart investment.

How would I compare this to the long-term value of BTC? We can't just assume the past is completely predictive of the future. How can I estimate the inherit value of BTC today, 10 years down the road, etc...

Is it the value of the network? Is it the cost of production? Genuinely curious...