Cryptocurrency
Is Bitcoin Undervalued? Core Scientific Founder Shares Optimistic Thoughts

Darin Feinstein, founder of Core Scientific, recently asserted that Bitcoin is still massively undervalued.
In a July 4 post on X, Feinstein shared his insights and personal experiences within the world of Bitcoin.
Bitcoin’s True Value
In the post, he stressed that the true value of Bitcoin lies in its underlying technology: the immutable ledger on which it operates.
“What is still massively undervalued about Bitcoin is that the immutable ledger that Bitcoin runs on is infinitely more valuable than the Bitcoin itself. The ledger blockspace is still not priced in,” he explained. According to Feinstein, the Bitcoin ledger represents “the most important accounting ledger of all time and the only true record of history in humanity.”
Reflecting on Bitcoin’s growth, Feinstein emphasized the institutional and governmental support the cryptocurrency has gotten. “Now you have ETFs, governments HODLing, billionaires and Presidents supporting, and an understanding that this asset, Bitcoin, is never going anywhere,” he asserted.
On April 17, 2013 I entered the email confirmation code into Mt. Gox and set up my account, sending them #Bitcoin valued that day at $68.36 per #Bitcoin.
It would be almost a year before this #Bitcoin would be lost.
I had an account at https://t.co/acsIaKKM6X prior to Mt. Gox,… pic.twitter.com/gtxFGPPBCm
— Darin Feinstein (@DarinFeinstein) July 4, 2024
He stated that even during periods of extreme market volatility, such as Bitcoin’s recent drop to the mid $50,000 range, the cryptocurrency’s fundamental value remains intact. He added that today’s concerns are minimal compared to the “complete chaos” experienced in Bitcoin’s early years, where skepticism and mockery were common.
Feinstein’s message on Independence Day was one of resilience and optimism. He encouraged the community to see the cryptocurrency’s current price drop as an opportunity stating, “Take this opportunity to enjoy the 4th in this great country, and know this artificial Bitcoin movement is a chance to buy more.”
Darin Feinstein’s Bitcoin’s Journey
Feinstein recounted his entry into the Bitcoin market, sharing his experiences with various exchanges that ultimately failed, resulting in financial losses. “On April 17, 2013, I entered the email confirmation code into Mt. Gox and set up my account, sending them Bitcoin valued that day at $68.36 per Bitcoin,” he wrote.
He went on to explain that almost a year later, this Bitcoin would be lost when Mt. Gox collapsed. His accounts on other exchanges like Bitfloor, Cryptsy, and btc-e also vanished, resulting in the loss of millions of dollars at current Bitcoin prices.
Despite these setbacks, his determination and belief in Bitcoin never stopped. He demonstrated this by becoming involved in three class-action lawsuits in an attempt to recover his lost Bitcoin.
In 2017, he traveled to Wuhan to meet with ASIC manufacturer Innosilicon and then to Beijing to engage with Bitmain and the U.S. Ambassador to China to get support for Bitcoin.
His journey ended in a meeting with Changpeng Zhao (CZ) in Shanghai, who was then planning to move Binance to Japan. Feinstein’s confidence in CZ’s vision led him to transfer his Bitcoin to Binance.
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Cryptocurrency
4 Things That Could Rattle Bitcoin and Crypto Markets This Week

Crypto markets took a big dip in late trading on Sunday, with Bitcoin falling below $100,000 for the first time since early May, but it appears to be recovering already.
Markets have been highly volatile over the past week amid geopolitical tensions and the US air strike on Iranian nuclear facilities over the weekend.
Those tensions escalated with Iran threatening to close the Straits of Hormuz, a key shipping channel, which would impact global oil prices.
Russia has also reportedly stated that countries are ready to supply Iran with nuclear weapons.
This market has all your answers:
Over the last 72 hours, the US bombed Iranian nuclear sites, Russia said countries are ready to supply Iran with nukes, and Iran’s parliament voted to close the Strait of Hormuz.
Yet, stock market futures are down a mere -0.5% at the open and…
— The Kobeissi Letter (@KobeissiLetter) June 22, 2025
Economic Events June 23 to 27
Key inflation data is due this week, kicking off with June’s S&P Global Manufacturing PMI and Services PMI preliminary readings on Monday,
These purchasing managers’ indexes are leading economic indicators used by analysts to gain insights into changing economic conditions and rates of change.
Tuesday will see home sales data and consumer confidence reports released, while Federal Reserve Chair Jerome Powell will be speaking before Congress to give lawmakers an update on the central bank’s views on inflation and the economy.
Thursday will see more GDP data released for Q1, which will paint a broader picture of the state of the economy and what to expect going forward.
Friday’s Personal Consumption Expenditures (PCE) for May is the big report of the week as it tracks changes in inflation based on consumer spending. The Fed considers the annualized Core PCE Price Index its preferred gauge for inflation in the US.
Key Events This Week:
1. Markets React to US Strikes on Iran – Monday
2. May Existing Home Sales data – Tuesday
3. June CB Consumer Confidence data – Tuesday
4. Fed Chair Powell Speaks – Tuesday & Wednesday
5. US Q1 2025 GDP data – Thursday
6. May PCE Inflation data- Friday…
— The Kobeissi Letter (@KobeissiLetter) June 22, 2025
A very busy economic calendar combined with increased tensions in the Middle East is likely to create a very volatile week ahead for crypto markets.
Crypto Market Outlook
Digital assets continued to weaken over the weekend following US military action in the Middle East and more rhetoric from Iran and Russia as the situation escalates.
Markets lost 4% in a fall to $3.15 trillion but managed to recover slightly during early trading in Asia on Monday morning.
Losses were led by Bitcoin, which fell to $98,500 briefly in its first sub-six-figure dip since May 8. However, BTC had reclaimed the $101,000 level at the time of writing.
Ethereum dumped more than 7% in a fall to $2,135, its lowest level since it broke above $2,000 in early May. Nevertheless, it also made a minor recovery to trade around $2,240 on Monday morning.
Altcoins were all in the red aside from Hyperliquid as markets continue to weaken again.
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Cryptocurrency
Metaplanet Buys 1,111 BTC, Total Holdings Now Top $1.1 Billion

Metaplanet Inc. has announced a 1,111 BTC purchase, pushing its total holdings to 11,111 BTC valued at over $1.12 billion.
This latest acquisition, executed at an average price of approximately $106,408 per Bitcoin, further solidified the Tokyo-based investment firm’s position among the world’s top ten largest corporate holders of the original cryptocurrency, increasing its lead over Coinbase in 10th place and trailing Hut 8 in 8th by 273 BTC.
Metaplanet Sets Its Sights Higher
Chairman Simon Gerovich confirmed the buy via a post on X, where he revealed that the company was targeting 30,000 BTC before the end of 2025. Additionally, in an infographic shared in a follow-up post, Gerovich outlined his firm’s path to hitting 210,000 BTC by 2027.
He projects the company acquiring 70,000 BTC in 2026 to get to 100,000, and adding another 110,000 the following year to own exactly 1% of the entire Bitcoin supply.
Metaplanet’s rapid rise, from 97.850 BTC in April 2024, has been driven by relentless capital market activity. The organization has utilized a combination of stock acquisition rights and zero-coupon bond issuances, primarily directed to EVO FUND, to fuel its Bitcoin accumulation strategy.
The 1,111 BTC, bought for $118.2 million, follows a similar pattern, coming weeks after a $117 million acquisition of 1,112 BTC on June 16, which increased its holding to 10,000 BTC. Before that, the firm purchased 1,088 BTC on June 2 for approximately $117.5 million. Its average buy-in across all 11,111 BTC now stands at $95,869.
Metaplanet measures success through the “BTC Yield” metric, reflecting Bitcoin accretion per fully diluted share. In a statement shared on X, the firm revealed that the metric has soared 306.7% year-to-date, with a particularly strong 107.9% gain between April 1 and June 23, translating to a hypothetical gain of 4,367 BTC purely from operations, worth ¥66.189 billion at their reference price.
Despite this aggressive strategy, the company’s stock was down 5.39% at the time of this writing, changing hands at ¥1,685, possibly due to heightened geopolitical tensions in the Middle East following the United States’ bombing of Iran’s nuclear facilities.
The dip was also witnessed in the price of Bitcoin. Currently trading at around $101,511, the asset is down 4.5% over the past week and 6.5% in the last month.
BTC Treasuries Catching On
Metaplanet’s buying spree is not just reshaping its own balance sheet; it signals a deepening institutional embrace of Bitcoin as a core treasury reserve asset.
According to HODL15Capital, by June 16, 24 companies had increased their holding of the number one crypto asset by an additional 11,902 units. These include Singapore’s Genius Group, which bought 100 BTC and is targeting 1,000, and Sweden’s first Bitcoin treasury company, H100, which recently increased its ownership of the asset to 169 BTC.
Others, such as China’s DDC Enterprise and New York-based Mercurity, are planning to raise $528 million and $800 million, respectively, to purchase Bitcoin.
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Cryptocurrency
Bitcoin Bounces to $102K but Crypto Market Tensions Remain (Market Watch)
The cryptocurrency market continues to experience heightened volatility, which is evident in the elevated liquidation levels across the derivatives market.
Bitcoin has reclaimed the pivotal $100K mark but the broader situation remains uncertain as the industry remains under the heavy influence of macroeconomic and geopolitical events.
Bitcoin Price Bounces to $102K
As we reported yesterday, the conflict between Israel and Iran escalated. The US joined the war and striked three strategic Irany sites, causing immediate turmoil on international markets with crypto being no exception.
In response, Iran threatened to close the Straits of Hormuz – a critical chokepoint for oil transport, which resulted in even more highly elevated oil prices.
Amid all of this, Bitcoin’s price tumbled below $100,000 for the first time since May and reached an intraday bottom at around $98,000.
The bulls took control, however, and managed ot stage a recovery, with the price currently trading at slightly less than $102,000. The situation remains obviously uncertain, however, and very volatile, which can be seen by the elevated liquidaitons across derivatives markets. Coinglass reports over $600M liquidated in the past 24 hours – that figured surpassed $1 billion yesterday.
Altcoins Remain Shaky
Some altcoins managed to recover better than BTC throughout the same period, while others remain largely in the red. A notable example here is HYPE, which is up by almost 6% in the past 24 hours, where the broader majority of major altcoins are trading either flat or continue losing value against BTC.
Story (IP), alongside Sonic (S), and KAIA are the best-performing cryptocurrencies for the day, up in the range between 7.5% and 10%.
On the other hand, Mantle’s MNT and Bitget Token (BGB) failed to capitalize on the recovery and are down by 3.7% and 2.9%, respectively.
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