Tyler Winklevoss, one of the popular Winklevoss twins, considers that a “tsunami” of capital could be coming for Bitcoin (BTC). His comments come after Square0s decision to invest $50 million in Bitcoin a few days ago.
Tyler Winklevoss Bullish About Bitcoin Adoption
Large companies seem to be investing in Bitcoin and the trend could continue in the near future. A few days ago, Square announced it invested $50 million in Bitcoin. This represents now 1% of all its assets.
Before Square, MicroStrategy acquired Bitcoin twice for around $425 million. This shows how important Bitcoin is becoming for companies all over the world and how they want to gain exposure to this digital asset.
The main question is whether there will be other firms investing large amounts of money in Bitcoin or other virtual currencies. Apparently, for Tyler Winklevoss is clear. There will be many other companies investing in Bitcoin in the next months and years.
According to Tyler Winklevoss, it was first MicroStrategy acquiring Bitcoin, later it was Square with its $50 million stake in BTC. In the future, he considers that there will be other firms investing in Bitcoin.
About it, he wrote on Twitter:
“First, it was Michael Saylor and publicly traded Micro Strategy buying $425 million of Bitcoin. Today, it is Jack Dorsey and Square buying $50 million of Bitcoin. Tomorrow, it will be another visionary leader, and another, and another… the tsunami is coming.”
First, it was @michael_saylor and publicly traded @MicroStrategy buying $425million of #Bitcoin. Today, it is @jack and @square buying $50million of bitcoin. Tomorrow, it will be another visionary leader, and another, and another…the tsunami is coming https://t.co/MjF5z6u7ha
— Tyler Winklevoss (@tylerwinklevoss) October 8, 2020
It is also worth mentioning that Paul Tudor Jones acquired Bitcoin and used it as a hedge against inflation as well. This shows there have been large investors and companies placing their funds in the cryptocurrency market and helping it move higher.
Bitcoin Stays Above $11,000
Bitcoin is also staying above $11,000 after a price increase to $11,300. This shows there is still a large interest for Bitcoin and that the cryptocurrency could continue expanding all over the world.
According to Konstantin Anissimov, the Executive Director of CEX.IO, both Bitcoin and Ethereum could reach $12,000 and $440, respectively. In addition to it, he considers that they may even reach new highs this year and move even higher.
As he said during a conversation with UseTheBitcoin, this behaviour will show the virtual currency market and Bitcoin resumed the bull market that started after the COVID-19 crash in March 2020.