Legendary entrepreneur and investor Cameron Winklevoss explained what is "great accumulation of Bitcoin" is and why we might be in the middle of a rare investing opportunity period.
"Window is closing fast": Cameron Winklevoss on "pre-IPO" Bitcoin (BTC)
The market has entered the phase of the great accumulation of Bitcoin as the race for the first Bitcoin (BTC) ETF is accelerating. This statement was made by Cameron Winklevoss, a co-founder of Gemini crypto exchange and Winklevoss Capital VC firm.
The Great Accumulation of bitcoin has begun. Anyone watching the flurry of ETF filings understands the window to purchase pre-IPO bitcoin before ETFs go live and open the floodgates is closing fast. If bitcoin was the most obvious and best investment of the previous decade, this…— Cameron Winklevoss (@cameron) June 21, 2023
As such, the opportunity to buy Bitcoin (BTC) in its "pre-IPO" status might vanish very soon since regulators might be close to approving of first Bitcoin (BTC) ETFs.
Mr. Winklevoss foresees that, should this happen, the floodgates will open. He claims that the window of opportunity is closing fast and that anyone monitoring the situation would understand this.
Given this fact, he compares the current phase of Bitcoin (BTC) price performance to that in the middle of the "previous decade" and makes a very bullish prediction:
If bitcoin was the most obvious and best investment of the previous decade, this will likely be the most obvious and best trade of this decade
His followers recalled the processes that started after the approval of the first ETF on Gold (XAU). This breakthrough triggered a four-year bullish rally for the asset that is well-known for its low volatility.
Following BlackRock, more companies are filing for ETFs on Bitcoin (BTC)
As covered by U.Today previously, more and more asset managers are making their Bitcoin ETF ambitions public. After $10 trillion heavyweight BlackRock, Fidelity is rumored to file for this product.
Also, finance titan Invesco has joined the club, according to recent SEC filings. It should be noted that the firm withdrew its Bitcoin ETF application back in October 2021, but now decided to make a comeback.
Bitcoin ETF is highly anticipated by retail investors as it will streamline investing in the first cryptocurrency without the need to own Bitcoins (BTC) physically. As such, the hypothetical Bitcoin ETF approval is a huge bullish catalyst in 2023.