Bitcoin's journey from a controversial digital currency to a recognized global asset is marked by both fascination and skepticism. This transformation is not just about its role as a currency but also its underlying technology. In a recent discussion, Roundtable anchor Rob Nelson, and Brian Dixon, CEO of Off The Chain Capital, delved into bitcoin's multifaceted nature and its potential future.

Nelson began by drawing a parallel between bitcoin and traditional assets like gold. He highlighted that while bitcoin functions as a currency in countries like El Salvador, it is also a groundbreaking technology. Nelson emphasized, "What happens when the technology aspect of bitcoin, whether it's around identity protection, verification, any number of things grows?" He suggested that bitcoin's dual role as a store of value and a technology could significantly enhance its value.

Brian Dixon expanded on this idea, comparing bitcoin's technological impact to the foundational internet protocol (IP). He posited that if IP had a digital asset linked to it at its inception, it would resemble bitcoin today. Dixon stated, "I believe bitcoin in the future will be viewed as a priceless technology." He envisioned a future where bitcoin's technology is ubiquitous, seamlessly integrated into daily life, much like the internet is today.

Dixon further discussed the undervaluation of bitcoin, citing various analytical models. He mentioned the bitcoin power law model, trend line analysis, and Plan B's stock-to-flow model, all indicating that bitcoin's current value does not reflect its true potential. "Right now, in my opinion, it's extremely undervalued from where it should be," Dixon asserted. He expressed confidence that as adoption grows, the perception of bitcoin as a priceless technology will become more widespread.