It's that slow realization the opportunity has finally run out of more run space. $5, or even Riots' $2.30 bid, might have worked 6 or 12 months ago. But that ship has sailed. $10, the new price, will likely fall just as quickly, too.
It's anybody's guess what happens when this light bulb moments hits all of the fund managers at once?
This being an election year, no doubt there will plenty more shenanigans left in 2024. But it won't be too long before FOMO begins to tighten around the mutual fund and hedge fund managers, not to mention the actuaries who hold the insurance funds. I'm betting it's around the time somebody finally explains how bitcoin and mining actually works to all of these managers.
Perhaps they haven't yet reached the realization that without mining, BTC doesn't come into existence. That there will only be 21 million total BTC and that 19,700,000+ have already been accounted for.
That the next two million mined will likely raise the price of all that came before.
The awareness of scarcity is going to rush in very fast and it's likely to trigger a panic which has been ignored for a long time.
Not sure if this will happen to other crypto, too, as they don't require mining. We shall see.
Recent CORZ News
- Core Scientific Announces Extension of CoreWeave Option for 118 Megawatts of Infrastructure to Support High-Performance Computing • Business Wire • 09/06/2024 12:45:00 PM
- Core Scientific Announces CFO Transition Plan • Business Wire • 09/06/2024 12:10:00 PM
- Core Scientific Announces August 2024 Production and Operations Updates • Business Wire • 09/05/2024 12:10:00 PM
- Core Scientific, Inc. to Participate in September Investor Conferences • Business Wire • 08/30/2024 10:45:00 PM
- Core Scientific Strengthens Balance Sheet and Supports Growth Plans with Proceeds from Recent Convertible Notes Offering • Business Wire • 08/20/2024 08:10:00 PM
- Core Scientific Prices Upsized $400 Million Convertible Senior Notes Offering • Business Wire • 08/14/2024 04:20:00 AM
- Core Scientific, Inc. to Participate in the 44th Annual Cannacord Genuity Growth Conference • Business Wire • 08/13/2024 08:10:00 PM
- Core Scientific Announces Proposed Convertible Senior Notes Offering • Business Wire • 08/13/2024 11:22:00 AM
- Core Scientific Announces Fiscal Second Quarter 2024 Results • Business Wire • 08/07/2024 08:10:00 PM
- Grayscale Unveils Bittensor and Sui Funds, Polkadot Struggles at $5, Nexera Plummets 45% on Hack • IH Market News • 08/07/2024 07:22:13 PM
- BTC Surpasses $56K, Core Scientific’s Extended Deal with CoreWeave, Ronin Network Halts After MEV Exploit, and More • IH Market News • 08/06/2024 06:46:00 PM
- Core Scientific Announces Exercise of Additional Contract Option by CoreWeave for Delivery of Approximately 112 MW of Additional Infrastructure to Host High-Performance Computing Operations • Business Wire • 08/06/2024 12:10:00 PM
- Core Scientific Announces July 2024 Production and Operations Updates • Business Wire • 08/05/2024 12:10:00 PM
- Core Scientific, Inc. Schedules Second Quarter Fiscal Year 2024 Earnings Release, Conference Call and Webcast • Business Wire • 07/31/2024 08:10:00 PM
- Ethereum Drops 6%, Bitcoin Conference Tickets Soar to $844,600, New TON Wallet Enables Gas-Free Transactions • IH Market News • 07/25/2024 08:07:18 PM
- Bitcoin ETFs Surge, Grayscale Launches AI Fund, XRP Soars 40% in One Week • IH Market News • 07/17/2024 07:10:01 PM
- Gateway Group Announces Preliminary Sponsors and Additional Presenting Companies for September Gateway Conference • GlobeNewswire Inc. • 07/16/2024 02:00:00 PM
- Core Scientific Announces Tranche 2 Warrants Triggering Event • Business Wire • 07/12/2024 12:10:00 PM
- Ericsson Reports 14% Profit Increase, UBS Downgrades Tesla Shares, Ozempic Linked to Reduced Dementia Risk • IH Market News • 07/12/2024 10:28:11 AM
- NEAR Achieves New Milestones, TIA Faces Market Volatility, Block Unveils Advanced Mining Chips • IH Market News • 07/10/2024 07:47:39 PM
- Block’s New Bitcoin Mining Chip to Be Part of an Ongoing Project With Core Scientific to Decentralize Mining Hardware • Business Wire • 07/10/2024 12:10:00 PM
- Core Scientific Announces Mandatory Conversion of Outstanding Secured Convertible Notes • Business Wire • 07/08/2024 12:10:00 PM
- Crypto Market Sentiment Dives, PancakeSwap Launches zkSync Reward • IH Market News • 07/05/2024 06:33:10 PM
- Core Scientific Announces June 2024 Production and Operations Updates • Business Wire • 07/05/2024 12:10:00 PM
- PancakeSwap Launches AI Prediction Market; Worldcoin and Alchemy Unveil New Blockchain, and More Crypto News • IH Market News • 06/26/2024 06:48:25 PM
Simple Stock Loans Announces Unique Solutions For Investors Looking for Alternative Liquidity Amidst Recent Small Cap Rally Sep 6, 2024 9:30 AM
Reliant Coffee Debuts at #271 on the Inc. 5000 List of Fastest Growing Companies - Coffee Service Industry Disruptor Brews Up Exponential Growth Sep 5, 2024 11:51 AM
VAYK Confirms Receiving Revenue from First Airbnb Property with 1.4 Million Annual Revenue Goal • VAYK • Sep 4, 2024 9:34 AM
Mawson Finland Limited Expands Known Mineralized Zones at Rajapalot: New Lens Intercepts 21.75 m at 5.25 g/t Gold & 515 ppm Cobalt • MFL • Sep 4, 2024 9:02 AM
Integrated Ventures Acquires 51% Stake In GetTrim.Com (TM), Telemedicine Platform With Focus On Expansion Into Booming GLP-1 Powered Weight Loss Market • INTV • Sep 4, 2024 8:45 AM
Avant Technologies Announces Strategic Review Process Intended to Maximize Shareholder Value • AVAI • Sep 4, 2024 8:00 AM