Core

Value

Bitcoin

Drops

Spot

Amid recent fluctuations in <a href="https://coingape.com/price/bitcoin/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20%241%2C186%2C499%2C283%2C596." target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a>, Darin Feinstein, founder of <a href="https://coingape.com/bitcoin-miner-core-scientific-turns-down-coreweaves-1b-offer/" target="_blank" rel="noopener noreferrer nofollow">Core Scientific</a>, has voiced a bullish stance on the cryptocurrency’s future. He believes the actual value of Bitcoin has yet to be fully appreciated, focusing on the underlying technology rather than its market price. Today’s valuation, he suggests, needs to reflect the ledger’s potential.
<h2 id="strong-feinstein-optimistic-despite-bitcoin-recent-price-drops-strong">Feinstein Optimistic Despite Bitcoin Recent Price Drops</h2>
Feinstein highlights the growth and transformation within the Bitcoin ecosystem since its inception. He recalls the early chaotic days contrasted with today’s broader acceptance and institutional involvement. Governments and billionaires are now investing in cryptocurrency, showcasing its mainstream appeal.
&nbsp;
Moreover, the introduction of <a href="https://coingape.com/spot-bitcoin-etf-sheds-35m-as-capital-exodus-continues/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> marks a significant milestone in its journey toward widespread adoption. This transition from an experimental digital currency to a recognized financial asset underscores its staying power. Feinstein argues that these developments point to a robust future for Bitcoin.
&nbsp;
Despite recent price drops attributed to factors like miner capitulation and external market pressures, Feinstein remains optimistic. He views such dips as buying opportunities, emphasizing the cyclical nature of <a href="https://coingape.com/bitcoin-plummets-to-57k-as-btc-selloff-intensifies-whats-happening/" target="_blank" rel="noopener noreferrer nofollow">BTC’s market value</a>. His confidence stems from witnessing Bitcoin’s resilience over the years.
&nbsp;
Also Read: <a href="https://coingape.com/spot-bitcoin-etf-sheds-35m-as-capital-exodus-continues/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Sheds $35M As Capital Exodus Continues</a>
<h2 id="strong-feinstein-highlights-blockchain-s-unmatched-data-integrity-strong">Feinstein Highlights Blockchain’s Unmatched Data Integrity</h2>
Feinstein asserts that Bitcoin’s ledger, the technology on which transactions are recorded and verified, is its most valuable asset. This blockchain technology offers an immutable and transparent record-keeping system. He says it is the “most important accounting ledger of all time.”
&nbsp;
He argues that the undervaluation of the ledger’s block space needs to consider its potential to revolutionize data integrity and security. The blockchain can provide a truthful and unalterable historical data record far beyond financial transactions. This, Feinstein believes, is where Bitcoin’s real value lies.
&nbsp;
He also points out that BTC’s ledger still needs to be fully priced into the market, suggesting significant room for growth. In his view, the utility and importance of the blockchain as a foundational technology are infinitely more valuable than Bitcoin itself. This perspective invites investors to look beyond immediate price metrics.
&nbsp;
Also Read: <a href="https://coingape.com/michael-saylor-cheers-btc-independence-amid-market-crash/" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor Cheers BTC Independence Amid Market Crash</a>
The post <a href="https://coingape.com/core-scientific-founder-claims-bitcoins-true-value-not-yet-realized/" rel="noopener noreferrer nofollow">Core Scientific Founder Claims Bitcoin’s True Value Not Yet Realized</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Core Scientific Founder Claims Bitcoin’s True Value Not Yet Realized

Table of Contents

Coingape News Media

Other articles published on Jul 4, 2024

The BRI Lifts the Veil on Banks’ Crypto Activities: What Will Change?

Dogecoin Faces Crucial Test at $0.1184 Support Amid Profit-Taking Pressure

How PR Can Help Bridge the Gap Between Blockchain and Mainstream Adoption

MoonBag Reigns Supreme: Best Presale in 2024 Soars to $3.1M, Eclipsing AAVE and Hedera

Bitcoin ‘HODL Tax’: A Lifeline for Miners or an Attack on Holders?

FoundationLogic Unveils Silent Home Miner at Mining Disrupt 2024

Join our free newsletter for daily crypto updates!