Winklevoss Twins See Bitcoin Rise 30 to 40-Fold
Cameron and Tyler Winklevoss, the twins well-known for settling a case with Facebook founder Mark Zuckerberg in 2008 over him allegedly stealing the idea of the social media website from them, recently stated on CNBC that they see Bitcoin have the potential to increase 30 to 40x in 10 to 20 years.
According to them, Bitcoin can disrupt the Gold market which is worth over $7 trillion, so the cryptocurrency rising 40x to a $5 trillion market is definitely not unthinkable. They stated:
"Taking bitcoin in isolation … we believe bitcoin disrupts gold. We think it's a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it's better than scarce … it's more portable, its fungible, it's more durable. Its sort of equals a better gold across the board,"
"So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it's actually a buying opportunity, we think that there's a potential appreciation of 30 to 40 times because you look at the gold market today, it's a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, it's still a very underappreciated asset."
Do you see Bitcoin hit that big of a market cap? Personally I see cryptocurrencies like Ethereum surpass Bitcoin in the short-term, but I see Bitcoin or privacy coins like Zcash without a doubt become the transaction standard worldwide.