{"id":367546,"date":"2019-01-08T13:00:20","date_gmt":"2019-01-08T13:00:20","guid":{"rendered":"https:\/\/wncen.com\/?p=367546"},"modified":"2024-06-11T07:32:32","modified_gmt":"2024-06-11T07:32:32","slug":"winklevoss-twins-bitcoin-surpass-gold-leading-crypto","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/winklevoss-twins-bitcoin-surpass-gold-leading-crypto\/","title":{"rendered":"Winklevoss Twins Believe Bitcoin Will Surpass Gold, Remain Leading Crypto"},"content":{"rendered":"
Save for Trace Mayer, Roger Ver, Jed McCaleb<\/a>, Andreas Antonopoulos, and a mere handful of other early-stage Bitcoin (BTC) entrepreneurs, the Winklevoss Twins, Tyler and Cameron, are some of the most dedicated crypto believers out there.<\/p>\n Following a successful lawsuit against Facebook’s very own Mark Zuckerberg, the two pocketed dozens of millions. And eventually, after the two competed at Beijing’s Summer Olympics in 2008 and attended Oxford University for MBAs, they went on to allocate much of their settlement to the flagship crypto asset.<\/p>\n The Twins claimed that they purchased 1% of all BTC in 2013, a rumored 100,000 BTC<\/a>.\u00a0And, even while the two had ample time to liquidate their holdings well above their cost-basis, Tyler and Cameron have only doubled-down on this industry, time and time again. Their recent candid appearance\u00a0on Reddit, the web’s most popular forum, only accentuated the duo’s\u00a0unbridled optimism.<\/p>\n On Monday, Winklevoss Twins, the founders of the Gemini Exchange, took to Reddit’s “Ask Me Anything” subreddit for a candid question & answer discussion, which aimed to provide consumers with a look into the two’s business dealings, personal thoughts, and global outlook. Although the Twins garnered the attention of non-crypto fans, who know the two due to their involvement with the Olympics and Facebook, the so-called “AMA” session<\/a> was focused around cryptocurrencies.<\/p>\n After some banter regarding “The Social Network,” a movie centered\u00a0around the origins of Facebook, and the duo’s fastest erg (rowing) records, the Winklevii, as the two are often affectionately\u00a0called, were asked about their thoughts on the market. Unsurprisingly, the Twins, who have evident vested interests in this nascent sector, explained that they remain bullish on Bitcoin’s value proposition.<\/p>\n Tyler explained that his and Cameron’s “thesis [on] Bitcoin’s upside remain unchanged,” even in spite of the bear market that ravaged cryptocurrencies and their respective communities throughout 2018. Their investment thesis, for those who missed the memo, is that Bitcoin is “better at being gold than gold itself” \u2014 a sentiment held by many long-standing cryptocurrency investors. So, Tyler noted that as this industry continues to develop, Bitcoin will continue eating up bits of gold’s market capitalization, until the cryptocurrency passes its physical counterpart.<\/p>\n The Gemini founders aren’t alone in pushing this thought process. Messari CEO Ryan Selkis explained<\/a> that Bitcoin is a great hedge in a traditional market “inflationary recession,” which he predicted is right around the corner. Selkis noted that investors will \u201cflock\u201d to stores of value, like a digital gold, in trying times. Just weeks later, Crypto Oracle founder Lou Kerner divulged<\/a> that Bitcoin could breach $100,000, specifically due to its inherent characteristics of being scarce, relatively portable, decentralized, and censorship-resistant \u2014 a perfect digital store of value.<\/p>\n Cameron explained that the aforementioned features, which allow Bitcoin to be classified as “hard money<\/a>,” will allow the digital asset to maintain its unquestioned hegemony in the cryptocurrency world for years to come. The Winklevii half noted that “Bitcoin [will] most likely [be] the winner in the long-term… it’s certainly the OG crypto!”<\/p>\nGemini Founders’ Bitcoin Thesis Remains Unchanged<\/h2>\n
Related Reading:\u00a0Prominent CEO: Bitcoin Isn\u2019t Digital Gold Yet, But $10,000 Is Still Possible<\/a><\/em><\/h6>\n