Gemini co-founder Cameron Winklevoss has predicted Asia to be the trigger for crypto’s next bull run as the U.S. opts to take a back seat on innovation.

In a tweet on Feb 13, Winklevoss disclosed that it is his firm belief that Asia will surpass the U.S. in virtual currency development in the near future. He went on to predict that the U.S. risks missing out on the biggest dividends of growth since the rise of the internet.

Winklevoss’ comments received support from several key industry players, with Binance’s founder Changpeng Zhao wondering if the bull run will begin in the Middle East or the Far East. Both regions in Asia have recorded incredible figures, according to the Chainalysis Crypto Adoption Index 2022.

Countries like the Philippines, Japan, and South Korea are leading the charge for virtual currency adoption with thriving local ecosystems and a robust governing framework in the Far East. The Middle East is not far behind, as the UAE and Saudi Arabia have been making significant inroads in the metaverse, attracting leading global firms to set up operations in the region.