The co-founder of the Gemini cryptocurrency exchange, Cameron Winklevoss, on 21 June clearly stated via Twitter that the “great accumulation of Bitcoin” has started.
Camron’s words have prompted significant speculation and excitement among investors and supporters alike as Bitcoin (BTC) begins to acquire popular adoption.
Moreover, Cameron compares the past ten years, when Bitcoin became the most evident and best investment, to the present ten years, which, in his opinion, offer the potential for what may be the best and greatest trade.
Additionally, Cameron emphasises that the market may change as a result of the expansion of Bitcoin accessibility, which is speculated to occur with the introduction of Bitcoin ETFs.
The CEO of Gemini asserts that investors who are aware of the short window for pre-IPO investments may consider this as a good opportunity to amass Bitcoin before widespread adoption takes place.
Investor confidence has recently increased as major traditional financial institutions like BlackRock, Invesco, Fidelity Investments, and Wisdom Tree applied for the spot Bitcoin ETF registration.
It’s amazing to note that Cameron’s comments were sparked by the recent rise in Bitcoin’s price, which saw it hit $30,000 for the first time since April. At the time of publishing, Bitcoin’s price was trading at around $29,952.50
In the meantime, Cameron has already forecasted that the next large crypto bull run will transfer attention from the US to the East due to tighter regulatory restrictions.
After Federal Reserve Chair Jerome Powell acknowledged the use of payment stablecoins as a form of currency in his remarks, the price of bitcoin increased. Furthermore, Powell said that the central bank need to be involved in regulating the circulation of stablecoins.
The U.S. House Financial Services Committee similarly declared its intention to vote on a bill intended to increase transparency for digital currencies in July.
Moreover, the proposed law aims to create a more transparent regulatory environment, easing the conversion of digital currencies from their current classification as securities to commodities.
The most recent price breakout in Bitcoin was also accompanied by a sharp increase in network activity, as shown by a jump in transaction volume.
