Cryptocurrency News'The Great Accumulation' of Bitcoin has begun

‘The Great Accumulation’ of Bitcoin has begun

With spot Bitcoin ETFs filings helping boost the price of Bitcoin, some suggest the “window to front-run institutional demand is closing.”

In the last week, several prominent investment companies, including Fidelity, Invesco, Wisdom Tree, and Valkyrie, have joined BlackRock, a leading investment firm, in submitting applications for a Bitcoin spot ETF to the United States Securities Exchange Commission. Many analysts speculate that this development is the driving force behind Bitcoin’s recent price surge of 19% to $30,240.

On June 21, Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, expressed his belief that the process of “The Great Accumulation” of Bitcoin has commenced among both institutional and retail investors.

Related: Price of Bitcoin: 6 main factors influence the BTC price

Drawing a parallel, he likened purchasing Bitcoin before the public launch of ETFs to investing in a company before its initial public offering (IPO). He further warned that the window for buying Bitcoin is rapidly narrowing and referred to the impending closure of the “floodgates” for such investments.

In his recent post, Michael Saylor, the Executive Chairman of MicroStrategy, shared his perspective on the matter, indicating that growing institutional demand may soon overshadow the participation of retail investors. Saylor implied that the influx of institutional interest could potentially diminish the role of individual investors in the market.

“The window to front-run institutional demand for Bitcoin is closing.”


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