- Cameron Winklevoss commented on the flurry of applications for bitcoin-ETF
- It marks the start of a great race
- After all, institutions will need to buy large amounts of BTC
One of the founders of the Gemini crypto exchange, Cameron Winklevoss, shared his opinion about the hype with the launch of Bitcoin ETF. Recall that in just a week 5 largest American companies announced such plans at once.
Winklevoss is confident that this will kick-start the big race for bitcoin. Institutional and retail investors will compete in it. Moreover, retail players should hurry up until the “doors are closed”.
The expert believes that buying bitcoins before the ETF enters the public market can be compared with a pre-IPO. That is, with a pre-sale of shares before entering the public market.
“The great Bitcoin accumulation has begun. Anyone watching the flurry of ETF filings understands that the window to buy BTC is quickly closing. If bitcoin was the most obvious and best investment of the previous decade, then it is likely to be the most obvious and best trade of this decade.”
A similar opinion is shared by Michael Saylor, the former head of MicroStrategy. He believes that the market will soon crowd out retail investors due to growing institutional demand. And he also writes that “the window will close soon”:
Whether this is so, time will tell. At the moment, the news about Bitcoin-ETF has helped the main cryptocurrency to grow by more than 20% in a week.