Gemini co-founder Cameron Winklevoss believes that owning Bitcoin is a “worst decision” to invest in Amazon. Since its inception, Amazon’s inventory has grown from approximately $250 to $3160.
Winklevoss said:
Winklevoss is the first high-level investor to make comparisons between Bitcoin and Amazon.
In November 2018, when Bitcoin’s value fell to the region through $4,000, venture capitalist Fred Wilson BTC to Amazon. He said:
“So while the costs of cryptographic assets have fallen by 80-95% in U.S. dollars over the past year, they may fall and likely fall. Amazon falls 80% a year in the post-bubble bear market and declined in part. before reaching a minimum just two years after his beak.
There is no genuine similarity between Bitcoin and stocks. The first is perceived as a new asset and its description is in dispute. Some see it as a reserve of value, others still see it as a dicy asset.
But one not unusual issue between the two assets is that in their respective times, they were outliers.
In the early 2000s, after the bubble of generation, the market skeptical about the ability of generation actions to survive.
After Amazon reached a maximum of $90, it fell to $6, before recovering. In the sense that Bitcoin is at an initial level as active and technology, there is a similarity to Amazon.
Wilson two years ago:
“Amazon peaked in the Internet bubble in late 1999 at around $90/share. Almost two years later, at the trough, you could briefly buy Amazon at $6/share. And then it took until late 2007 for Amazon to trade above the highs it reached in 1999. But of course, all of this is ancient history and if you look at Amazon’s chart today, all of that turbulence is hardly even visible.”
Since June 27, in 4 days, the value of Bitcoin has increased from $8,800 to $11,900, to about 35%.
The explosive call to decentralized finance (“DeFi”) fueled Ethereum, which then increased in BTC and other primary cryptocurrencies.
But Winklevoss said investors who were covering the curve against Bitcoin inflation had also catalyzed the existing recovery in the value of the BTC. He said:
“Unlike 2017, this uptick is handled through Bitcoin as inflation and Ethereum DeFi FOMO.”
Billionaire hedge fund manager Paul Tudor Jones also said in May that he saw Bitcoin as a hedge opposite inflation policy. He said:
“When I think of bitcoin, it’s a small component of a wallet. Possibly the most productive actor of all, I think he can be, too. But I’m very conservative.”
In eleven years, Bitcoin is at an initial level of growth. Improving Bitcoin’s belief as a valuable reserve and possible safe haven asset can be the long-term dynamics of BTC.
I am a money analyst and investor who has been working in the cryptocurrency and generation sector since 2013. I have worked with leading publications in the
I am a money analyst and investor who has been working in the cryptocurrency and generation sector since 2013. I have worked with leading publications in the cryptocurrency chart, offering information, interviews, market research and generation coverage. I have contributed to Cointelegraph, CryptoSlate, CCN, Hacked, Binary District, NewsBTC, CoinJournal and CryptoInsider.