Who else is buying bitcoin after the “519” crash?

Bitcoin’s market cap is currently hovering around $1 trillion, and Tyler Winklevoss believes it will at least double tenfold.

Who else is buying bitcoin after the "519" crash?

On the evening of May 19, Beijing time, the cryptocurrency market took a nosedive. Bitcoin once fell below $31,000, while Ether (ETH) fell below the $2,000 mark, down more than 40%, leaving the cryptocurrency world in a “foul mood”. It is worth noting that since the “519 crash”, there are a few people who continue to be bullish on bitcoin and continue to buy it.

Wu Jihan launched a poll on Twitter, what have you been doing in the past hour? With 1,098 votes, 36.6% of people chose to buy, 8.5% chose to sell, and 5.6% bought and sold, leaving 49.3% who chose to wait and see, neither buying nor selling.

Then, on May 20, Wavefield TRON founder Sun Yuchen took to social media and said in a high-profile statement that he had splurged over $280 million to buy bitcoin and ethereum. On domestic social media, he did not forget to continue waving the flag, “The time has come when the cryptocurrency circle needs us to protect the disk”, and while announcing the amount of his purchase, he stressed, “It’s not about the money! It’s all about attitude! It’s all about attitude!”

On May 20, Delano Saporu, founder and CEO of NewStreetAdvisorsGroup, said that for investors with a long-term perspective, this is actually a fantastic opportunity to buy at a price that may not be seen again for some time. In addition, Sebastián Serrano, CEO and co-founder of Argentine crypto exchange Ripio, tweeted, “Today we purchased over $10 million in Bitcoin and Ether (over 150 BTC & 2,000 ETH) for Ripio Group’s vaults.”

Meanwhile, hedge funds and asset managers have bought bitcoin at lower levels, the two trading firms said. This comes after bitcoin reportedly climbed from a low of $30,000 to more than $40,000, according to Aya Kantorovich, head of institutional sales at FalconX, which said TradFi Asset Management is buying its products. In addition, before the market began to rise, GenesisGlobalTrading had sent notice to counterparties that macro funds were beginning to buy at the $35,000 level.

ARK Fund position data shows that on May 25, ARK Fund bought 163,699 shares of Grayscale Bitcoin Trust (GBTC) and sold 7,030 shares of Coinbase stock.

Recently, at the 2021 Bitcoin Conference in Miami, Gemini founder Tyler Winklevoss still said that Bitcoin is still in its early stages. Bitcoin is currently hovering around $1 trillion, and I still think it’s at least 10 times what it is here. Even at $35,000, that’s a very good buying opportunity in the long run because I think one bitcoin will be worth $500,000, and that could happen in this next five years.

Miami Mayor Francis Suarez spoke at the Bitcoin 2021 conference in Miami on June 6. He explained how he plans to make Miami the capital of bitcoin and argued that the regulatory issues surrounding cryptocurrencies “will take care of themselves. In addition, he added that “at the end of the day, there’s only one thing to do: buy low.

In addition, Miami Mayor Francis Suarez spoke about bitcoin in an interview with CNBC. He revealed he has bitcoin and ethereum in his portfolio. He bought Bitcoin at $35,000 to $40,000 and ETH at around $1,500.

And more recently, according to a recent survey conducted by the Financial Planning Association (FPA) and Financial Planning Magazine, 49% of financial planners said they had received questions from clients about cryptocurrencies in the past six months. In last year’s survey, this response rate was only 17%. In addition, 26% of financial planners said they plan to increase their investments or recommendations in cryptocurrencies in the next 12 months. Currently, 14% of financial planners say they invest in or recommend virtual currencies. In 2019 and last year, that percentage was less than 1%.

Notably, a survey by cryptocurrency exchange Kraken found that a growing number of young Australians are frustrated with traditional investments. Nearly a quarter of those surveyed fear a depreciation in the value of their traditional cash savings. The study found that 22% of Australians surveyed believe that investing in cryptocurrencies is an easier way to save enough for a down payment than putting fiat money in the bank. Nearly 40% of millennials say investing in crypto assets is better than investing in property.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/who-else-is-buying-bitcoin-after-the-519-crash/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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