Wednesday, March 20, 2019

Winklevoss Twins Believes Bitcoin Will Overtake The Gold Market

Cameron and Tyler Winklevoss have maintained their opinion about Bitcoin stating that the digital currency will continue to be a store of value and overtake the 7 trillion Gold market. The twins made several comments about the future of Bitcoin on January 7, while in a Reddit “Ask Me Anything,” Session.

Twins Run a Full Page Ad on New York Times

The twins opened an AMA session on Reddit revealing that they have just run a full page advert on New York Times Magazine. The details of the ad promote the regulation of the crypto market to ensure the best practices that will enhance customer protection. The duo added that the crypto revolution is underway and it’ll impact the internet, financial system, and even money.

The Winklevosses also admit that while all these are achievable, it will not be easy to arrive at this revolution. They stated that their interest was sparked in Bitcoin in 2012, and so they began to store up the digital asset after believing in its potentials. However, they noted that it was difficult to buy, sell, and store up the asset which led to the development of the Gemini cryptocurrency exchange.

Ask The Twins Any Question Relating to Cryptocurrency

Other than speaking about their ad and how they ventured into the crypto space, the twins also asked crypto enthusiasts on Reddit to ask them any question. It could be about cryptocurrency, Geminin, or just about anything. Judging from the lengthy thread, they did spend a great deal of time to answer these people. As at press time, 483 comments have been made since the AMA began hours ago.

A user referred to the fact that they had predicted a bullish run of $40,000 in 2014, and if they still see that happening soon. Tyler responded by saying;

Our thesis around bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the ~7trillion dollar market cap of gold.

The twins were also asked if Bitcoin will always be number one cryptocurrency and Cameron said: “Bitcoin is certainly the OG crypto!”. He adds that network effects are inevitable and as such, Bitcoin is the winner regarding being a store of value.

In the aspect of asking just about anything, a user asked, “Do you love that everyone hates Zuck now?”, referring to Facebook’s founder and the court issue between the Twins. A lot of interest was sparked towards the question. A user said, “They probably shouldn’t answer this for obvious reasons, but we all know in our hearts they’re thinking “karma’s a bitch.”

Although the twins ignored the question, they made comments about the movie, “Social Network” which features the startup of Facebook. In their opinion, it is a great movie which does not tell the full story.

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