Friday, September 17, 2021
pool-ads
Home Latest News Bitcoin Tyler Winklevoss: "Smartest people in the room buying the Bitcoin quietly"

Tyler Winklevoss: “Smartest people in the room buying the Bitcoin quietly”

More than a handful of traditional financial giants have picked up stacks of Bitcoin

Big name financial players continue buying into Bitcoin during 2020, including the likes of billionaire Paul Tudor Jones and MicroStrategy, a business intelligence firm. Gemini crypto exchange co-founders Tyler and Cameron Winklevoss recently said that these contributions are part of a flow of major cash entries into BTC. 

“This is the most sophisticated investors, the smartest people in the room, buying the Bitcoin quietly, so it’s not a FOMO [fear of missing out] thing,” Tyler said in a Friday CNBC interview. In comparison to Bitcoin’s retail-led bull run in 2017, big institutions are here for this go-round, Tyler explained. 

Stanley Druckenmiller, Jack Dorsey’s Square, MassMutual, and Guggenheim Partners have all acquired Bitcoin exposure over the course of this year in addition to Tudor Jones and Microstrategy. Their crypto-plays are in line with an uncertain global economic atmosphere rife with attempts to print currency. As a store of cash and an inflation hedge, Bitcoin is also compared to gold. Druckenmiller and Tudor Jones fit with a story like this.

Tyler Winklevoss added: “Also, you have publicly-traded companies like Square and MicroStrategy putting their treasury cash into Bitcoin because they’re worried about the oncoming inflation and the scourge of inflation with all the money printing and the stimulus from the COVID pandemic lockdowns.”The brothers named Bitcoin a “buy and hold” technique comparable to gold when talking about Bitcoin’s uncertainty as an asset for transactions. “We see Bitcoin right now as an emergent store of value that will disrupt gold, and that gets us to a $9 trillion market cap for Bitcoin,” Tyler said.  “So, it actually doesn’t have to be used as a currency, and the volatility doesn’t matter if it’s actually a store of value,” he added. The billionaire also expects the asset to experience a degree of declining uncertainty over time.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
magazine-ads

Must Read