- Jason Williams, in his recent tweet, accused the Big banks of being silent about Bitcoin because they are accumulating large amounts of Bitcoin.
- Williams is a keen Bitcoin supporter, and he seems a bit worried as the big financial institutions are letting the price of Bitcoin rise above themselves.
Jason Williams, in his recent tweet, accused the Big banks of being silent about Bitcoin because they are accumulating large amounts of Bitcoin. It seems that they do not just want to bid up the price against themselves.
Finally, he concluded by saying that when big banks finally started to care about it, it will be too late for them because then it won’t be available at a low price.
Big banks are silent on #bitcoin as they stack large amounts.
They don’t want to bid up the price against themselves.
Mark my words – When the banks start talking about #Bitcoin it will be too late to buy cheap sats.
— Jason Williams 🦍 (@JWilliamsFstmed) July 11, 2020
Bitcoin May Experience A Counter Trend
Jason Williams is the co-founder as well as the partner of the Morgan Creek Digital. Williams is a keen Bitcoin supporter, and he seems a bit worried as the big financial institutions are letting the price of Bitcoin rise above themselves. As of now, Bitcoin is trading around somewhat $9,230.58 down by 0.08% in the last 24 hours.
The price of Bitcoin has been going to and fro with price swinging in the $9200 to $9300 region. At the same time, Bitcoin had crossed below its 20 days moving average on 10th July. However, a counter-trend on Bitcoin’s price may occur. This may be a perfect time for the investors and traders to buy dips. However, on the brighter side, in the last two weeks, Bitcoin’s price has shown an appreciating trend.
Although, in the tweet mentioned above, Williams has despised big banks for just stacking Bitcoin. These financial institutions have always played an important role in global capitalism and affect Bitcoin from a certain perspective.
The Big Banks Have The Power To Control Bitcoin
Per Forbes, The big banks have the power of controlling both Bitcoin as well as the fiat currencies. Well now, the debate between fiat currency and Bitcoin is an eternal saga. Some people do think of Bitcoin as a supplement for gold, as well as the conventional fiat. In contrast, some people believe that no matter what happens, Bitcoin will always be a secondary method of financial transactions.
Williams’ growing concern is that the big banking institutions aren’t letting Bitcoin grow against them because they think that Bitcoin isn’t an alternative to fiat. However, he stresses the point at some point, the banks will realize their mistake, but it will be too late for them because Bitcoin won’t be any cheaper then.