Bitcoin billionaire Tyler Winklevoss: “This bull run is different”
Gemini exchange co-founder and CEO Tyler Winklevoss stated that the current Bitcoin bull run is different from 2017. Winklevoss simply wrote “This bull run is different” without comment on Twitter. The famous investor stated that Bitcoin is still at a very early stage in the technology adoption lifecycle and sophisticated investors are just beginning to get involved. Winklevoss said, “You haven’t seen anything yet.” Said. continued.
Gabor Gurbacs, director of VanEck / MVIS Digital Asset Strategy, commented on Winklevoss’s tweet, “This bull run is different.”
“Institutional investors are driving this rise”
Gurbacs stated in his blog post that the bull rally in 2017 was held with high volume small investors, but the volumes were much lower in the 2020 run. Indicating that they also talked about this at VanEck, a global investment company, Gurbacs said that they think the 2020 rally was created by institutional companies that are less speculative and do not act against the nature of Bitcoin, and that it gives power to Bitcoin as a value storage tool and possible adoption. He said it would increase as well. In short, Gurbacs thinks that this series was created entirely by institutional investors.
As is known, there have been some developments that will fuel the rise of Bitcoin in 2020. For example, some public and private companies tried to protect themselves from inflation by investing some of their investments in Bitcoin instead of holding fiat money. On the regulatory side, the US Currency Control Office (OCC) has issued a statement stating that national banks and savings companies can provide cryptocurrency custody services for their customers. There was also a big improvement on the payment side, and PayPal, one of the world’s largest companies, took a step to support Bitcoin and some crypto currencies and announced them. Coins can be stored on the platform alongside their trades.
VanEck’s European President Martijn Rozemuller also used the following statements regarding Bitcoin’s bull rally:
“BITCOIN’S RELATIVELY LOW CORRELATION WITH OTHER ASSETS MAKES IT A PERFECT ASSET TO DIVERSIFY A PORTFOLIO.”