VanEck Strategic Advisor Highlights Transformative Shifts in Bitcoin Market Dynamics
VanEck’s Strategic Advisor, known for managing the Bitcoin ETF HODL and Tether, has taken to the social media platform X/Twitter to declare a perceived significant change in the global Bitcoin market. Gabor Gurbacs feels that a “new era” and a “higher level of maturity” for the world’s leading cryptocurrency have now begun.
“The Bitcoin Disaster Ends Due to These Factors”
Gurbacs tweeted his belief that certain key factors that were previously detrimental to Bitcoin, such as “various real estate sales” and the collapse of major cryptocurrency platforms like FTX, are no longer a “disaster” for Bitcoin. These factors previously led to substantial Bitcoin declines and contributed to the collapse of the entire cryptocurrency market in 2022.
With the recent approval of Bitcoin exchange-traded funds (ETFs) and companies, there is now widespread accumulation of Bitcoin. Gurbacs stated that ETFs in Bitcoin quickly acquired the approval from the Securities and Exchange Commission on January 11.
In a previous tweet, Gurbacs mentioned that Bitcoin ETFs have rapidly taken over the “sale of FTX GBTC” without significant impact. These real estate sales have ceased to harm Bitcoin as BTC simply transitions from “weak hands” to “strong hands.” Gabor Gurbacs stated that the SEC’s decision to finally allow Bitcoin ETFs was highly beneficial as it “changes the game and limits downside volatility.”
Tim Draper Awaits “Full Bitcoin Currency”
Tim Draper, a renowned Bitcoin advocate and investor, reaffirms his expectations that the leading cryptocurrency will reach $250,000 by 2025. He anticipates the emergence of a “global Bitcoin currency” in the future, where Bitcoin will not only serve as a store of value but will be universally accepted for payments worldwide. Draper believes a time will come when people will use Bitcoin to pay for clothes, food, and accommodation, rendering dollars undesirable.
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Draper sees stablecoins as temporary bridges to a global economy based on Bitcoin. In this context, he likens Bitcoin to the early days of Microsoft, envisioning Bitcoin evolving into a foundation for various financial applications.
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