Gabor Gurbacs, strategic advisor to major fund management company VanEck (the issuer of the Bitcoin Spot HODL ETF) and Tether, has taken to social media platform X/Twitter to share that he believes the global situation in the Bitcoin has undergone drastic changes.
Gabor Gurbacs, strategic advisor to major fund management company VanEck (the issuer of the Bitcoin Spot HODL ETF) and Tether, has taken to social media platform X/Twitter to share that he believes the global situation in the Bitcoin has undergone drastic changes.
Gurbacs says he feels a “new era” and “new level of maturity” has now begun for the world’s flagship cryptocurrency.
“The Bitcoin ‘catastrophe’ caused by these factors is over”
VanEck’s advisor tweeted that he believes some of the major factors that were previously stressful for Bitcoin are no longer a “catastrophe” for BTC. These are “several property sales” and large cryptocurrency platforms that are bankrupt, such as FTX and some cryptocurrency lenders that crashed resoundingly in 2022, causing massive Bitcoin drops and dragging the entire cryptocurrency market down with them.
Gurbacs believes that these factors will not have any further negative impact on Bitcoin, as there are now corporations and spot Bitcoin ETFs, and both are accumulating BTC on a large scale now after the ETFs received the long-awaited approval from the Exchange Commission. and Values. on January 11.
In a previous tweet, Gurbacs said that Bitcoin ETFs had caught “the FTX GBTC sell-off” fairly quickly and without a big impact. These “property sales” have stopped hurting Bitcoin as BTC is simply moving from “weak hands” to “strong hands.” Gabor Gurbacs stated that the SEC’s decision to finally allow spot Bitcoin ETFs was very beneficial as it “changes the game and controls downside volatility.”
Tim Draper hopes for total “Bitcoinization”
Renowned investor Tim Draper, also known as a strong Bitcoin supporter, has confirmed his prediction that the leading cryptocurrency will reach $250,000 by 2025.
He also hopes that in the future there will be a global “Bitcoinization”, when Bitcoin becomes not only a store of value but a currency accepted everywhere by anyone. He believes there will come a time when clothing, food and accommodation will be paid for in Bitcoin and “people will no longer want dollars.”
Draper sees stablecoins as temporary bridges to a global economy powered by Bitcoin. In this context, he compared Bitcoin to the early days of Microsoft, believing that BTC will eventually become a basis for various financial applications.
