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Venture capitalists and founders of Gemini crypto exchange Tyler and Cameron Winklevoss are bullish on Bitcoin and believe the cryptocurrency is just warming up for what is to come.
In an interview with CNBC today, the Winklevoss twins noted that the new decade holds incredible records for Bitcoin as the leading crypto asset finally broke its all-time high price after three years.
Bitcoin Still A Good Buy
A few hours to press time, Bitcoin briefly traded above $19,783, setting a new record for the first time in 2017. Although several indicators show that FOMO investors have not started buying BTC even with the price at near $20,000, Tyler thinks it still an excellent time to join the Bitcoin bandwagon.
According to him, Bitcoin is “gold 2.0,” and a market cap of $9 billion would send the asset’s worth to 25x its current price.
“We think it will be the best performing asset of the current decade. Our thesis is that Bitcoin is gold 2.0, and it will disrupt gold. If it does that, it has to have a market cap of $9 trillion. So we think bitcoin could price one day at $500,000 a bitcoin. So at $18,000 bitcoin, it’s a hold, or if you don’t have any, it’s a buying opportunity because we think there’s a 25x from here,” Tyler said.
Best Tool Against Inflation
In 2019, the twins called Bitcoin gold 2.0, saying they think major companies will introduce their own cryptocurrency projects, following Facebook’s digital currency announcement.
The Winklevoss brothers believe Bitcoin is better than gold because it is the best tool against inflation and excessive money printing by governments.
Cameron Winklevoss noted that more people are starting to see why Bitcoin matters and the opportunity the digital asset offers, thanks to the coronavirus pandemic.
“I don’t think there’s an asset in the universe that can credibly offer that kind of potential and protect against inflation,” Cameron said.
Bitcoin Is Here To Stay
Meanwhile, mainstream corporations like Microstrategy, Square, and Stone Ridge have been stacking BTC. Analysts believe that these institutions are the ones fueling the current bull run. It would be interesting how high the price would go in the coming weeks or months once FOMO investors join the party.
But whatever the case may be, Tyle believes that “Bitcoin is here to stay.”