Early bitcoin investors and gemini cryptocurrency founders Tyler and Cameron Winklevoss see bitcoin gain more than 25 times what already exists as more and more investors adopt the cryptocurrency as inflation coverage.
“This will be the most productive acting asset of the decade that has been in place,” Tyler Winklevoss said in an interview with Seema Mody in CNBC’s “Squawk Box” on Monday.
“Our thesis is that Bitcoin is gold 2. 0 and that it will alter gold. If you do, you will need to have a market capitalization of $9 billion. Therefore, we believe that bitcoin can charge a day $500,000 per bitcoin. So, at $18,000 bitcoin, it’s a deduction or, if you don’t have one, it’s a buying opportunity because we think there are 25 times here,” Tyler said.
The twins commented to CNBC last year about the cryptocurrency.
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The value of Bitcoin increased by 5% on Monday to more than $19,000 as investors continue to accumulate cryptocurrencies in 2020. The value of Bitcoin is quoted around $19022, according to knowledge of the CoinDesk trading site. The cryptocurrency first rose close to the $20,000 mark in December 2017 It collapsed a short time later and had not returned to the point of $18,000 until the last few weeks.
Assets have risen more than 160% this year with interest from well-known investors such as Paul Tudor Jones and Stanley Druckenmiller. Giant Fintech Square and PayPal have reduced the barrier to access to the asset.
“I think a lot of investors come and realize that inflation, there’s a spectrum of inflation out there and how to protect themselves to oppose that?I don’t think there’s much debate about all the debt that has the highest in America. “the impression of money, then, how can you oppose that?Cameron Winklevoss added. ” I think a lot of other people are starting to realize that bitcoin is the most productive defense and offers the opportunity for an asymmetrical return of anything like 25 to 40 times from here. I don’t think there’s an asset in the universe that can crediblely offer that kind of inflation-opposing perspective and shield. “
Winklevoss twins said gold was traditionally the vintage cover, but that bitcoin is evolving as 2. 0 gold.
“It doesn’t want to be a wonderful way to trade, it just has to be more wonderful than gold and it is more wonderful in all areas. So Bitcoin, the supply of be is set at 21 million. Gold is rare. It can be shipped. Over the internet, like email, gold is hardware and it’s difficult to transport, “said Cameron Winklevoss.
The total amount of bitcoins that will never be produced has a cap of 21 million. The virtual asset underwent a key technical occasion in the spring known as “halving”, which saw the amount of bitcoins rewarded for so-called “minors” who upload Bitcoin. transactions to his public ledger have halved.
The Winklevoss twins got involved about the regulatory headwinds for the virtual asset.
“In 2013, there was a query about whether Bitcoin would be banned. We’ve gone way beyond that. We are in a solid and considerate regulation. We don’t see this not going on. We believe Bitcoin is here to stay, we believe we consider regulating this in the United States and other complicated jurisdictions is also here to stay,” Winklevoss said.
“Bitcoin remains the active asset of the year, even in relation to stocks,” he added.
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