Bitcoin has seen a strong rally over the past couple of days and weeks. The cryptocurrency is up by nearly 50% over the last 30 days, signifying the end of crypto winter. Bitcoin evangelist and co-founder of Gemini cryptocurrency exchange, Tyler Winklevoss remarked recently that the U.S. stimulus packages are a “code for buy Bitcoin.” Tyler commented in response to a speech made by the U.S. Federal Reserve Chair Jerome Powell.
Powell in his speech said:
Powell further added that the financial markets would benefit from stimulus packages.
Tyler Winklevoss opined to Powell’s speech saying that “this is code for buy Bitcoin.”
Tyler wants to signify that the fiscal stimulus will only lead towards driving the price of Bitcoin higher in response to the effect on US dollars.
While the government of the U.S. is interested in printing out US dollars since the COVID-19 pandemic, Bitcoin’s market cap remains fixed at 21 million.
Towards the end of October when the cryptocurrency was already at its all-time highs, Tyler declared that Bitcoin will be up for a further breakout:
The Winklevoss brothers have always been firm believers of Bitcoin. In 2013, the Winklevoss twins bought $11 million worth of Bitcoins while creating the US-based cryptocurrency exchange Gemini Trust Co.