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- Tyler Winklevoss continues to trust and invest his funds in the digital asset, Bitcoin
- The safest investment of one’s funds is the one in such a digital asset like Bitcoin
- Investor’s herd-mentality could be the reason for declining bitcoin prices
Bitcoin was surging concerning its prices in the past few days, since the beginning of 2021. Bitcoin’s price started to drop from 15th of January, 2021. With all the volatility associated with Bitcoin recently, Tyler Winklevoss, the co-founder of Gemini, is always there to back the crypto company by all possible means. Several experts did predict that it will have to incorporate changes that would lead to a decline in its costs. Still, nothing could influence Winklevoss and divert his mind from backing and supporting Bitcoin.
WINKLEVOSS’ THOUGHT BEHIND INVESTING IN BITCOIN
Winklevoss continues to spend rather than invest his funds in this digital asset . According to him, Bitcoin posed to be the only asset against the inflations in the market for an extended period. The market is very much sure about the USD’s debasement, which is due to the relief plan for Covid-19 posed by Biden, which amounts to a package of $1.9 trillion. This incident has marked recent inflation in coming. Winklevoss believed and preached that one’s funds could only be saved and secured if he invested in Bitcoin at such a time of uncertainty in the economy.
SUGGESTIONS PROVIDED BY WINKLEVOSS, TO OTHER INVESTORS
Witnessing the recent surges achieved by Bitcoin, Winklevoss suggests that this forward run of Bitcoin will continue, and it will achieve greater heights. According to him, now is the correct and appropriate time to get on board with Bitcoin. He picked out the example of Bitcoin reaching a value of $500,000, and so he compared this value to gold. The continuous investment of funds in Bitcoin has helped it achieve such momentum in the crypto market. According to a strategist of JP Morgan Chase, the investors who failed to understand the priority of investing in Bitcoin have led to its present declines.
There should be a continuous inflow of funds into the Grayscale Bitcoin Trust in the same usual dramatic manner. Also, the digital money could be harmed by a departure of pattern following speculators – according to Nikolaos Panigirtzoglou’s report.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
