Bitcoin Beyond Pet Rock - A Core Ventures Manifesto

March 25, 2025
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Bitcoin is winning the store of value narrative—but it’s capable of so much more.

Bitcoin is the most revolutionary technology of our time, redefining how we think about money, trust, and value in the digital age. Yet even among many of its strongest adopters and believers, Bitcoin is functionally a pet rock.

Even in mainstream discussions about Bitcoin’s future, the conversation is often narrowly focused: regulatory greenlights, TradFi involvement, or slow-moving protocol upgrades like new opcodes. Waiting for permission or protocol tweaks won’t unlock Bitcoin’s full potential.

What Bitcoin needs now is bold builders and entrepreneurs ready to evolve it from a pet rock into the cornerstone of global finance. Bitcoin isn't just something to hold. It’s infrastructure. It’s security. It’s programmable money with untapped potential across both traditional and decentralized finance.

We don’t need to wait. The tools are here, and so are the builders who believe in Bitcoin’s potential. Our mission at Core Ventures is to connect these builders with the resources they need to unlock the next era of Bitcoin-based innovation. For too long, HODL and BUIDL have lived in separate worlds. It’s time to bridge the gap—and build on Bitcoin.

Unlocking Bitcoin Utility Beyond HODL

Building on Bitcoin is a twofold path. It means unlocking value and utility for both the Bitcoin network and the Bitcoin asset.

The Bitcoin Network

New mechanisms like rollups, Delegated Proof of Work (DPoW), alongside older models like Merge Mining, are expanding what can be built under the protection of Bitcoin miners. By expanding native expressivity and extending their security to external systems, miners are earning valuable supplemental income while reinforcing the network’s security.

The biggest beneficiary—and benefactor—of this expansion is Bitcoin DeFi (BTCfi), where the innovative progress of the rest of crypto is finally being applied to Bitcoin. A thriving BTCfi ecosystem not only expands Bitcoin’s utility but also adds to miner incentives, ensuring Bitcoin value-creation reinforces Bitcoin network security.

The Bitcoin Asset

The idea of Bitcoin as just a store of value is incomplete.

Bitcoin staking has already turned Bitcoin from a passive asset into an active, yield-generating one without introducing new trust assumptions. But beyond staking, Bitcoin is rapidly becoming a dominant collateral asset.

While Bitcoin isn’t yet widely used as a medium of exchange, it is the leading digital-native asset for saving, borrowing, and trading. People want to save in Bitcoin while transacting in fiat and other assets.

Historically, Bitcoin’s role as collateral has been limited. Without decentralized infrastructure, only institutions with custodial services could fully leverage Bitcoin as collateral. For most individuals, optionality and liquidity have been out of reach—especially while maintaining custody.

BTCfi changes that. It promises a world where finance is:

  1. Secured by Bitcoin – On-chain applications leverage Bitcoin’s security instead of centralized intermediaries or non-Bitcoin-aligned protocols.
  2. Backed by Bitcoin – Lending, stablecoins, and RWAs (real-world assets) are collateralized by BTC.

We are in the early stages of a Bitcoin-native financial revolution, and the demand is already made evident by the emergence of Bitcoin staking, Bitcoin-backed stablecoins, and increasingly creative BTCfi dapps. Importantly, this is only the beginning.

Don’t Wait For New Opcodes

Bitcoin’s core design is slow-moving by necessity—but that doesn’t mean all progress must be slow.

We don’t need to wait for Bitcoin protocol upgrades like op_cat or BitVM to start building.

We didn’t need BitVM to get started on BTCfi.
We didn’t need op_cat to introduce Bitcoin staking.
We didn’t need a Bitcoin standard to use Bitcoin as a premiere collateral asset.

The vast majority of Bitcoin-enhancing technologies don’t come from base-layer upgrades. They come from building rapidly around Bitcoin’s sturdy, slow-moving foundation.

We Invest in Operators

We believe depth is a cornerstone of innovation, though research is quickly commoditized. The real advantage isn’t in who writes the best whitepapers—it’s in who builds the most useful products. Execution beats theory.

We invest in people. The people who listen to users, execute relentlessly, and push Bitcoin’s boundaries are the ones shaping its future.

Bitcoin’s future depends on 10x founders—the kind of operators who don’t just speculate on Bitcoin’s potential but actively work to realize it. If you’re the type of builder who thrives in uncertainty, who commits fully to a vision and drives it forward, we want to work with you.

That’s what Core Ventures is here to do: back world-class operators building on Bitcoin, for Bitcoin.

Join Us

Bitcoin has already transformed how the world thinks about money. Now, it’s time to build what comes next.

If you see the vision, if you’re ready to commit, let’s talk. Bitcoin needs leaders willing to build what’s missing. Reach out, and let’s build the future of Bitcoin together.