Gabor Gurbacs of VanEck announces a new era for Bitcoin (BTC).

Gabor Gurbacs of VanEck announces a new era for Bitcoin (BTC).

Jan 31 Tech Standard

Gabor Gurbacs, a strategic advisor to large VanEck fund managing business (the issuer of spot Bitcoin ETF HODL) and Tether, has turned to the X/Twitter social media platform to voice his belief that there have been significant changes in the global Bitcoin market position.

A "new era" and "new level of maturity," according to Gurbacs, have arrived for the leading cryptocurrency in the world.

The 'catastrophe' that these variables caused to Bitcoin has ended.

According to a tweet from VanEck's advisor, some of the key issues that previously caused stress for Bitcoin are no longer a "catastrophe" for the cryptocurrency. These include "various estate sales" and significant cryptocurrency platforms filing for bankruptcy, including FTX and a few cryptocurrency lenders that dramatically imploded in 2022, sending Bitcoin plunging to all-time lows and collapsing the cryptocurrency market as a whole.

Gurbacs thinks that these factors won't have any more detrimental effects on Bitcoin because there are now spot Bitcoin ETFs and corporations, and both are actively accumulating BTC following the ETFs' much-needed approval from the Securities and Exchange Commission on January 11.

Gurbacs said in a previous tweet that Bitcoin ETFs had quickly and minimally impactedly snatched up "the FTX GBTC sale." Bitcoin is no longer being harmed by these "estate sales," since it is only moving from "weak hands" to "strong hands." The SEC's move to finally permit spot Bitcoin ETFs, according to Gabor Gurbacs, is very advantageous since "it changes the game and tames downside volatility."

Tim Draper want to see "Bitcoinization" in full.

Prominent investor and vocal advocate of Bitcoin, Tim Draper, has validated his forecast that the top cryptocurrency will hit $250,000 by 2025.

In the future, he anticipates a worldwide "Bitcoinization" of Bitcoin, whereby it will cease to be just a store of value and instead be a universally recognized form of money. He predicts a day when "people will not want dollars any more" and that purchases of food, clothing, and lodging will be made using Bitcoin.

According to Draper, stablecoins are merely stopgap measures leading to a world economy driven by Bitcoin. He compared Bitcoin to Microsoft's early years in this context and thinks it will eventually serve as the foundation for a number of financial applications.


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