As a new era begins in the leading cryptocurrency Bitcoin after spot ETF approvals, a new comment came from VanEck Strategy Advisor Gabor Gurbacs.
Stating that the situation in the global Bitcoin market has undergone serious changes at this point, VanEck manager Gurbacs said that he felt that a “new era” had begun for BTC.
At this point, Gurbacs, sharing from his X account, said that institutional investors continue to accumulate Bitcoin and that various negative events are no longer a disaster for BTC.
“The various estate sales and bankruptcies are no longer a disaster for Bitcoin.
Spot ETFs and institutional investors continue to accumulate Bitcoin.
I don't know how to describe it, but it feels like the beginning of a new era and a new level of “maturity” for Bitcoin as an asset.
“At this point, I believe these negative factors will not have a further negative impact on Bitcoin as institutional investors accumulate BTC following the SEC's ETF approval.”
In a previous post, the VanEck manager stated that Bitcoin ETFs prevented the “sale of FTX and GBTC” quite quickly and without a major impact.
Arguing that Bitcoin passed from weak hands to strong hands with the ETF approval, Gurbacs thinks that negative events have stopped damaging Bitcoin.
At this point, Gabor Gurbacs thinks that the SEC's decision to allow spot Bitcoin ETFs is very beneficial for BTC because the ETF approval is a game changer for BTC and reins in downside volatility.
*This is not investment advice.