Why Investors Must Rethink Value in the Era of Digital Finance

From Meta-Fi to AI arbitrage in Bitcoin mining, traditional value metrics are being challenged by new engines of growth.

Investors who continue to rely solely on traditional valuation metrics risk overlooking the most transformative opportunities in today’s markets. According to Antonio Velardo, analyst and CIO at MoatInvesting, the rise of Meta-Fi, the convergence of Bitcoin mining and artificial intelligence, and the often-ignored power of Reinvestment Moats are reshaping how long-term value must be understood.

Antonio Velardo argues that while value investing has historically focused on buying companies at discounts to intrinsic value, this rigid framework can lead to systematic blind spots. “Too often, investors screen for low multiples or focus on legacy moats that preserve market share but generate limited growth,” he explains. “What they miss are companies capable of compounding capital at extraordinary rates through reinvestment, technological convergence, or new models of digital ownership.”

One area where this dynamic is most visible is Meta-Fi, the integration of non-fungible tokens (NFTs) with decentralized finance. By combining cultural relevance with financial utility, Meta-Fi opens new pathways for monetization, including staking, leasing, and collateralized lending. Velardo highlights that although these companies may appear expensive on traditional measures, their ability to continuously reinvest and expand markets makes them powerful engines of compounding growth.

A similar arbitrage opportunity, Velardo notes, is emerging in Bitcoin mining. Historically valued for their computational contribution to blockchain security, miners are increasingly redirecting capacity toward AI and high-performance computing (HPC). The valuation gap is striking: while Bitcoin mining facilities average around $4.5 million per megawatt of installed capacity, AI data centers can command over $30 million per megawatt. Deals like Core Scientific’s $3.5 billion contract with CoreWeave illustrate how this shift can unlock billions in additional enterprise value.

At the heart of these examples is Velardo’s focus on Reinvestment Moats. Unlike legacy companies that protect but rarely expand their position, reinvestment moat businesses allocate capital into high-return projects, enabling them to compound earnings year after year. Traditional value screens often dismiss such firms as “overvalued,” yet Velardo sees them as among the most attractive opportunities for long-term investors.

“In every case—whether Meta-Fi platforms, Bitcoin miners diversifying into AI, or companies with reinvestment moats—the pattern is the same,” Velardo concludes. “Markets reward reinvestment and adaptability. Investors who fail to recognize these dynamics will miss tomorrow’s leaders.”

By reframing the definition of value, Velardo suggests, investors can position themselves at the forefront of a financial era defined not by static multiples, but by the exponential effects of reinvestment and convergence.