According to Feinstein, the Bitcoin ecosystem has experienced significant growth and adoption since its tumultuous early days. He believes that the true value of BTC lies in the Bitcoin ledger, which he considers to be severely undervalued. Feinstein suggests that the current price drop of Bitcoin is artificial and presents a buying opportunity.
He attributes the drop to miner capitulation, a sell-off by the German government, and the Mt. Gox incident. He emphasizes that for those new to the space, the current drop may seem significant, but in reality, it is not.
Feinstein, the founder of Core Scientific, reveals that he entered the crypto space in 2012 and sent his first Bitcoin to Mt. Gox on April 17, 2013. He notes that the market now has Bitcoin ETFs, governments holding BTC, and support from billionaires and presidents, indicating a widespread acceptance of Bitcoin.
He asserts that Bitcoin is a permanent fixture, having been launched on January 3, 2009, and that its current price is rarely matched in its history. He concludes by stating that Bitcoin’s value stems from being built on the most critical accounting ledger of all time, representing the only true historical record of humanity.
