Gemini co-founder expects a different Bitcoin bull run thanks to stronger market infrastructure since 2017
Gemini co-founder Cameron Winklevoss recently posted on his personal Twitter account that the next Bitcoin bull run will look very different from 2017, crediting major improvements in infrastructure and a fundamentally changed market environment.
Winklevoss wrote: “The next Bitcoin bull run will be dramatically different. Today, there’s exponentially more capital, human capital, infrastructure, and high-quality projects than in 2017. Not to mention the very real specter of inflation that all fiat regimes face going forward. Buckle up!”
Back in 2017, Bitcoin was still unfamiliar to many investors and faced minimal, uneven regulation across jurisdictions. Several countries restricted or banned its use, and the broader financial system had limited exposure to crypto.
By 2020 and beyond, blockchain technology and cryptocurrencies are being acknowledged across industries. Many jurisdictions, including the United States, Dubai and various European nations, have moved toward clearer regulation and, in some cases, active encouragement of crypto innovation and adoption.
As regulators clarify asset classifications and legacy banking systems open to crypto, mainstream investor confidence is likely to grow. That institutional acceptance and integration into traditional finance could increase liquidity and broaden the base of demand, helping to power the next bull run and smooth crypto’s use within the wider economy.
Greater flexibility for investors
Clearer laws and regulatory frameworks have supported the development of new crypto products and trading venues, giving both retail and institutional investors more options.
For example, investment firm FiCAS launched an actively managed Bitcoin exchange-traded product (ETP) on Switzerland’s SIX exchange, offering a straightforward way for investors to gain exposure to Bitcoin with low fees and professional management.
Institutional-grade alternatives include products like Grayscale’s Bitcoin Trust, which provide a hands-off, custody-focused route to crypto exposure. Recent reports indicate that Grayscale’s Bitcoin Trust holds several billion dollars in assets under management, reflecting significant institutional interest.
Conditions for another rally
The evolving regulatory environment, coupled with greater institutional participation and supportive national policies for blockchain development, suggests the next bull market could differ substantially from 2017.
Mainstream investors now have clearer pathways to allocate capital into cryptocurrencies, which could represent substantial marginal demand. Public skepticism that once predicted Bitcoin’s collapse has diminished, and buying interest appears to be rising.
Alongside broader macro trends—such as concerns about fiat inflation and moves in other stores of value like gold—there are more avenues than ever to benefit from crypto market appreciation. While risks remain, the improved infrastructure and deeper capital pools create a materially different landscape for Bitcoin’s next upward cycle.