SQL & PL/SQL

Hello All,

I have a question regarding performance of an insert.

1. INSERT INTO tbl1 SELECT * FROM tbl2 

2. Bulk insert. 
CUROSR c IS SELECT * FROM tbl1;
OPEN c 
LOOP 
FETCH c BULK COLLECT INTO plsql_tbl 
FORALL i IN  plsql_tbl.first..plsql_tbl.last
INSERT INTO tbl2 VALUES plsql_tbl(i);
EXIT WHEN c%NOT_FOUND; 
END LOOP;
CLOSE c;

Which one of the above 2 options is faster and optimal?
In option 2, we are selecting the data into cursor and then populating the cursor data into plsql table and then inserting the plsql data into a base table. Doesn't this take long time when compared to option 1, where it is just an Insert into select * ?

Thank You,
Shank.