Gemini CEO Tyler Winklevoss says Square Inc.’s massive Bitcoin purchase is merely the beginning of an influx of institutional investments into the leading cryptocurrency.
On Thursday, San Francisco-based financial services company Square Inc. announced that it had acquired approximately $50,000,000 worth of BTC.
The sizable investment comes in the wake of business intelligence firm MicroStrategy’s $425,000,000 bet on Bitcoin as a profitable alternative to holding cash assets.
Tyler Winklevoss, the co-founder and CEO of crypto-exchange Gemini and staunch Bitcoin advocate, tells his Twitter followers that these large BTC purchases are just the first drops in a tidal wave of institutional investments that are coming to the Bitcoin space.
“First, it was Michael Saylor and publicly traded MicroStrategy buying $425 million of Bitcoin. Today, it is Jack Dorsey and Square buying $50 million of Bitcoin. Tomorrow, it will be another visionary leader, and another, and another… the tsunami is coming.”
Meltem Demirors, the chief strategy