The chief executive officer of Digital Currency Group confirmed that he is going with the opportunity in the crypto market in this significant correction.
Digital Currency Group (DCG) is a venture capital company. This company mainly focuses on the cryptocurrency market. It is located in Connecticut. This company was founded by Barry Silbert in 2015. According to avail information on Wikipedia, the total Assets Under Management (AUM) of DCG is $50 billion by September 2021.
On 17 June, Barry Silbert, Chief executive officer and founder of Digital Currency Group, took to Twitter to share his opinion and his action on the current situation of the Bitcoin market.
Through the tweet, Barry confirmed that he believes that the crypto market is currently under the highest downfall and now his company is buying at this bottom.
“Feels like we have hit max pain and uncertainty in the crypto market..(..).We’re buying BTC here. Let’s go!”
In response to this tweet from Barry, Raoul Pal, CEO and founder of Realvision said that he is also buying Ethereum as a priority and other crypto assets too.
On the date of the tweet, Bitcoin price was at a significant level, where Bitcoin was above the $20k price value backed strong buy wallet, and also Ethereum was showing a strong wall at $10k but today Bitcoin and Ethereum both faced an 8-9% downfall in the price.
At the time of writing this article, the price of Bitcoin is $18,918, which is 8% down over last day’s trade price.
This situation seems very crucial for Bitcoin and other leading cryptocurrencies because both these two coins are under huge downfall in terms of value.
Popular Bitcoin critic Peter Schiff also did his prediction on Bitcoin and claimed that Bitcoin will show a rebound in its value at $10k because the $10k price value will be the lowest.