The year of 2020 was a crazy one, to say the least, with a menagerie of troubles befalling the world at this time. However, it has also been a year of change, as a sizable amount of traditional financial giants took to putting in stakes within the Bitcoin (BTC) space.
Some of the biggest of these names are none other than MicroStrategy, the business intelligence firm, and Paul Tudor Jones, the billionaire investor.
Winklevoss Twins Comparing This Bull Run To The Last
Tyler and Cameron Winklevoss took note of these investments, and explained that this stands as part of why so much big money is being pushed into Bitcoin. The Winklevoss Twins went as far as to say that the smartest and most sophisticated of these investors are quietly buying up Bitcoin. As such, the Twins aren’t convinced that this is a Fear of Missing Out (FOMO) event.
Tyler made these statements in an interview with CNBC, which saw itself published on Friday. Another key factor to consider, as Tyler pointed out, was the fact that this massive bull run is being led by institutional players instead of retail investors, in contrast to the great bull run of 2017, which ultimately caused a crypto winter of sorts.
The Big Players Are Taking To BTC
Throughout this year, everyone from Stanley Druckenmiller, Tudor Jones, Jack Dorsey’s Square, Microstrategy, Guggenheim Partners, and MassMutual have all gained respective exposures to the world’s first cryptocurrency.
This massive increase in crypto adoption comes as the governments of the world start printing out money in order to try and stabilize the economy, which will have long-term drawbacks, in the end. The time for Bitcoin couldn’t have been planned better, and there are, without a doubt, two or three tinfoil-helmeted people out there that think this entire debacle had been orchestrated by Satoshi Nakamoto to lead the world in a bold new digital age.
Throughout the year, Bitcoin has been compared to gold more and more, with the sentiment being that it serves as an inflation hedge and a general store of value. This narrative is what aligned both Tudor Jones and Druckenmiller into the space at large.
BTC Could Challenge Gold In The Future
Indeed, Tyler Winklevoss explained that these publicly-traded companies like Microstrategy and Square are also shoring up Bitcoin. He explained that these firms are fearful of the eventual inflation, which will cause their treasury cash to degrade over time.
As for how the Winklevoss twins see Bitcoin, they declared Bitcoin should be handled with the same strategy of gold: Buy and hold. In particular, the twins believe the gold market will be disrupted by the Bitcoin market, and stated that volatility isn’t much of a problem seeing as it’s a store of value. However, they do expect the volatility to go down as time goes on.