Cameron Winklevoss: Buy BTC Now Before It Explodes

Republished By Plato

Followers: 0

Cameron Winklevoss – one half of the Winklevoss Twins who run the Gemini crypto exchange in New York – is confident bitcoin is about to burst out of its shell and reach a new bullish peak nobody is prepared for.

Cameron Winklevoss on the Future of BTC’s Price

At the end of June, the price of bitcoin rose beyond $31,000. This is the highest bitcoin’s been all year, and certainly higher than where it was for most of 2022, arguably the most bearish period on record for the world’s number one digital currency by market cap. Cameron Winklevoss believes that if people are going to take advantage of bitcoin still being somewhat low, they need to get involved now. Otherwise, they’re going to be paying a lot more for units. In an interview, he commented:

The great accumulation of bitcoin has begun. Anyone watching the flurry of ETF filings understands the window to purchase pre-IPO bitcoin before ETFs go live and open the floodgates is closing fast.

The warning comes after BlackRock – one of the biggest financial investment companies in the world – announced it was planning to submit a bitcoin-based exchange-traded fund (ETF) application to the Securities and Exchange Commission (SEC). The news came as a surprise to many people for several reasons, a big one being that in the long run, BlackRock is considered a traditional finance company, and many of these institutions won’t go anywhere near crypto.

Another big reason is that the SEC is going after several crypto companies right now, huge ones like Binance and Coinbase. It’s become clear that the SEC doesn’t care who gets victimized so long as it can follow through on its agenda of eliminating crypto from America and having complete control.

However, many believe that BlackRock may pave the way for a bitcoin-based ETF (something the SEC has long rejected) thanks to its high-ranking record with the financial agency. Thus far, BlackRock has enjoyed over 500 accepted proposals with the SEC and only one rejection.

This New ETF Could Really Pave the Way

Markus Thielen – head of research at Matrix Port – was quick to agree with Cameron Winklevoss and believes the bulls may return sooner than investors think. Discussing the new ETF, he commented:

While crypto still needs more than favorable macroeconomic tailwinds and institutional inflows into bitcoin, this is a welcoming development that reminds investors that crypto is here to stay. We can imagine that this BlackRock iShares ‘commodity’ bitcoin ETF will attract an allocation in the range of around $20 billion to $50 billion over time as ETFs that are focusing on gold alone hold around $100 billion. This BlackRock announcement has a high probability of being approved by the SEC and will drive continuous adoption from institutional investors for bitcoin.