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Winklevoss twins say bitcoin will be 20 times bigger  

The twin brothers, the world’s first “bitcoin billionaires”, have predicted that bitcoin could increase in value by another 20 times from today’s levels. Speaking to Fox Business, Cameron and Tyler Winklevoss challenged those who trash bitcoin to “put their money where their mouth is”. Cameron said:

“We think bitcoin is gold 2.0. It’s a store of value, so today it’s about a $US300 billion market cap, gold is at $US6 trillion, so we think it could very well go up another 20 times from today. We’ve been saying this since when bitcoin was a billion-dollar market cap. We’ve been in bitcoin about five years, it’s grown about 300 times to this point, so we think it’s definitely realistic that it could grow and disrupt gold and maybe even beyond that.”

The Winklevoss twins are the founders of the Gemini Exchange and long-term bitcoin investors. In 2013, they bought $US11 million worth, accounting for around 1 per cent of total circulation at the time. They wouldn’t comment on how much they still own, but said they had only ever sold or spent bitcoin twice in the past. Tyler said:

“I think Cameron bought some Legos, and we bought tickets to Virgin Galactic Space. Unfortunately we really overpaid, because bitcoin went up about 20 or 30 times. So we learned our lesson, we don’t spend our bitcoin, we’re long-term holders. We think it’s a store of value much more than it is a currency.”

 

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