Cryptocurrency
Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin: As reported on NewsBTC, “Last week, Square made mainstream headlines when it was revealed that the firm had bought Bitcoin — $50 million worth of the cryptocurrency. Square is a financial technology giant valued at around $80 billion, though the $50 million was only approximately […]
Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin:
As reported on NewsBTC, “Last week, Square made mainstream headlines when it was revealed that the firm had bought Bitcoin — $50 million worth of the cryptocurrency. Square is a financial technology giant valued at around $80 billion, though the $50 million was only approximately 1% of its assets.
Square wasn’t the first company to do so. The month before, MicroStrategy, a business services company, revealed that it had purchased $250 million worth of Bitcoin, then $175 million just months later.
Tyler Winklevoss, the co-founder of Gemini, believes that these two moves are just the start of a tsunami of capital coming into Bitcoin. Winklevoss has previously said that the cryptocurrency’s fundamentals are stronger than ever due to inflationary trends.
Tyler Winklevoss thinks that many more firms will follow MicroStrategy’s and Square’s lead in buying Bitcoin with money from their respective balance sheets. The co-founder of Gemini, a Bitcoin billionaire, went as far as to say that there is a ‘tsunami’ of companies and capitals potentially incoming…”