Yuri Molchan
Major fund manager senior executive VanEck believes a “new era” has dawned for Bitcoin as an asset
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The strategic advisor of the major VanEck fund management company (the issuer of the spot Bitcoin ETF HODL) and Tether Gabor Gurbacs has stated on the social media platform X/Twitter that, in his opinion, the global situation in the Bitcoin market is changing drastically has changed.
Gurbacs says he feels a “new era” and “new level of maturity” has now begun for the world’s leading cryptocurrency.
“Bitcoin’s ‘disaster’ due to these factors is over”
VanEck's advisor tweeted that he believes some of the key factors that previously weighed on Bitcoin are no longer a “disaster” for BTC. These are “various real estate sales” and the bankruptcy of major cryptocurrency platforms such as FTX and some crypto lenders that plummeted in 2022, leading to massive Bitcoin drops and dragging down the entire cryptocurrency market.
Gurbacs believes that these factors will not have a further negative impact on Bitcoin as spot Bitcoin ETFs and companies now exist and are both now accumulating BTC on a large scale after the ETFs received the long-awaited approval from the Securities and Exchange Commission on January 11th.
In an earlier tweet, Gurbacs said that Bitcoin ETFs “completed the FTX-GBTC sale” fairly quickly and without much impact. These “real estate sales” no longer hurt Bitcoin as BTC simply transitions from “weak hands” to “strong hands.” Gabor Gurbacs explained that the SEC’s decision to finally allow spot Bitcoin ETFs is very beneficial as “it changes the game and tames downside volatility.”
Tim Draper Expects Complete “Bitcoinization”
Renowned investor Tim Draper, also known as a vocal Bitcoin advocate, has confirmed his prediction that the leading cryptocurrency will reach $250,000 by 2025.
He also expects that in the future there will be a global “Bitcoinization,” where Bitcoin will become not just a store of value, but a currency that will be accepted by everyone everywhere. He believes there will come a time when clothing, food and shelter will be paid for in Bitcoin and “people won’t want dollars anymore.”
Draper sees stablecoins as temporary bridges to a global Bitcoin economy. In this context, he compared Bitcoin to the beginnings of Microsoft and believed that BTC would eventually become a basis for various financial apps.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
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