Proving once again that staunch fans of Bitcoin will never give up on it, the Winklevoss Brothers have said that Bitcoin has better potential than gold and stands to breach the literal gold standard that is a market cap of $7 trillion.
The Winklevoss Brothers are quite well-known and respected for their opinions within the crypto industry as founders of the Gemini Exchange, which made it to our list of top 10 cryptocurrency exchanges for 2019. Just like Brian Armstrong, the CEO of Coinbase who recently stated that Bitcoin was his first love, the Winklevoss Brothers have reasserted their love for and faith in the pioneering cryptocurrency Bitcoin.
The duo feel that Bitcoin has the potential to even cross the price and reliability level of gold. In that context, they called Bitcoin the “OG Crypto”. “OG” which stands for “Original Gangster” in millennial colloquialism, means, in this case, that Bitcoin is a class apart when it comes to cryptocurrencies.
The duo made these comments during an “Ask Me Anything” session on Reddit. Cameron Winklevoss said:
“Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”
Tyler Winklevoss echoed his twin’s unbounded enthusiasm as he said:
“Our thesis around bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the (approximately 7 trillion) dollar market cap of gold.”
If we are to believe that the duo is correct in this assumption, then it would mean that given Bitcoin’s total supply, each unit would be priced a little lower than the $3500 range, at $333,333 range. That price point is not too far from Bitcoin’s current price levels. Therefore, it seems that at some point, in the not-so-near future, the twins’ prediction may even come true.
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While many experts have spied a bullish upswing given the buying streak surrounding Bitcoin, some other analysts like Willy Woo are still of the opinion that Bitcoin remains in the bearish zone. Which way will it go? Only time will tell.
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