Bitcoin (BTC) will reach a historic “turning point” thanks to the corona virus, says investor Cameron Winklevoss. In a series of tweets dated April 12, the Winklevoss twin and partner in the Gemini crypto exchange emphasized the importance of Covid-19 for Bitcoin and its users.
Cameron Winklevoss: Hodl your BTC
“This pandemic will be a turning point for Bitcoin and the Metavere,” he wrote.Winklevoss told his followers to “hod” their BTC, implying that Bitcoin’s public profile would undergo a metamorphosis under the current conditions.
His optimism reflects that of other well-known personalities in the industry. Bitcoin, they argue, emerged from the previous financial crisis, which economists have already said is less severe than that which will accompany the coronavirus crisis. The markets already seem to confirm this theory. As reported by Cointelegraph, the unprecedented pressure of money does little to stimulate the mood on the stock markets, which did not recover immediately and still show annual losses.
Analyst: Oil Restrictions Are “Not Enough”
Oil, on the other hand, is making a comeback this week after the OPEC + countries agreed to cut their production by around 10%. However, there are already signs that this will not be enough.According to Bloomberg, the so-called oil contango – a price structure that can signal an oversupply of a raw material – has continued to increase despite the agreement.”