Winklevoss Twins about Bitcoin's future success

by in Bitcoin News

Winklevoss Twins

Cameron and Tylor Winklevoss are Internet entrepreneurs who led a seed-funding round for Bitcoin payment. Recently they have published a post expressing their opinions about Bitcoin's chances to succeed more.

The brothers believe the price of Bitcoin can go up to $500,000. They mentioned that there are "fundamental problems" with gold, oil, and the U.S. dollar as stores of value. Although US dollar has been e world’s primary reserve currency for “the last 75 years, now it isn't a good store of value. Even before the global pandemic, there were major problems and debts all around the world.

As for oil, its supply is increasing meanwhile the demand is decreasing.

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Talking about gold, Tylor mentions that the supply of gold isn't known yet. Besides, it's hard to move gold (especially during war or pandemic).

Tylor has no doubt that Bitcoin is superior to gold in different ways. One of them is that the cryptocurrency is not prone to supply shocks that gold might face. Comparing the market caps of gold and Bitcoin, Tylor comes to the conclusion that in case of replacing gold as the ultimate store value, Bitcoin could reach $500,000.