Bitcoin Will be the Best Trade of the Decade, Gemini Co-Founder Says
Cameron Winklevoss – Co-Founder and President of crypto exchange Gemini – thinks the “great accumulation of bitcoin has begun.”
He believes the asset will go on a massive uptrend once a BTC Spot ETF receives approval in the United States. As such, he labeled it as “the most obvious and best trade of this decade.”
An Accumulation Window
BlackRock’s ETF efforts entirely changed the short-term landscape for Bitcoin. The world’s largest asset manager filed with the US Securities and Exchange Commission (SEC) to launch a spot BTC ETF in the States. The move sparked optimism in the crypto space and seems to be one of the main factors for Bitcoin’s consecutive rally.
The primary digital asset recently surpassed the $30,000 level, tapping a two-month high. Its market capitalization exceeded $580 billion (per CoinGecko data).
According to Gemini’s President Cameron Winklevoss, investors have already started accumulating the asset en masse. He thinks people willing to join the ecosystem should do so before BTC ETFs see the light of day.
He went further, describing the asset as “the best investment of the previous decade” and “the most obvious and best trade” of the following ten years.
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. If bitcoin was the most obvious and best investment of the previous decade, this…
— Cameron Winklevoss (@cameron) June 21, 2023
It’s not Just BlackRock
Multiple investment companies, including Invesco and WisdomTree, followed suit and reactivated their attempts to introduce a fund that allows customers to invest in Bitcoin’s actual market price without having to own (and store) the asset.
The asset management firm – Valkyrie – also hopped on the bandwagon, saying its ETF will trade under the symbol “BRRR” should it receive a positive nod from the SEC.
BlackRock has so far filed for 575 ETF applications, with only one being rejected.
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Filed under: Bitcoin - @ June 22, 2023 11:15 am