Bitcoin, Cryptocurrency

‘The Tsunami Is Coming’ – Winklevoss

This recent week, Square built widespread headlines when it was disclosed that the firm had bought $50 million worth of Bitcoin. 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 primary company to do so. The month before, MicroStrategy, a business services company, admitted that it had acquired $250 million worth of Bitcoin, then $175 million just months later.

Tyler Winklevoss, the co-founder of Gemini, thinks that these two moves are just starting a tsunami of capital coming into Bitcoin. Winklevoss has previously mentioned that the cryptocurrency’s fundamentals are more essential than ever due to inflationary biases.

A Tsunami of Capital Is Evolving For Bitcoin

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 corporations and capitals conceivably incoming:

“FIRST, IT WAS @MICHAEL_SAYLORAND PUBLICLY TRADED @MICROSTRATEGYBUYING $425MILLION OF #BITCOIN. TODAY, IT IS @JACKAND @SQUARE BUYING $50MILLION 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’s deserving to note that Square and MicroStrategy have profited from these investments in terms of their stocks.

Both SQ and MSTR have rallied since they acquired Bitcoin for their respective balance sheets.

This may entice other companies to invest some of their assets into Bitcoin.

The Framework For Acceptance Couldn’t Be Any Better.

While some believe that Winklevoss may be too confident, there are indications that a rising number of institutions and corporations will adopt Bitcoin.

The founder of Mechanism Capital, Andrew Kang, recently stated that the backdrop for institutional adoption of Bitcoin has never been more robust.

He steered to a confluence of trends involving but not limited to low volatility in the cryptocurrency market, looming inflationary trends, low yields provided by other assets like bonds, high valuations in other markets such as equities and the real estate market, and validation of Bitcoin by Wall Street.

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