Bitcoin (BTC) could easily see a tenfold increase from here, according to Cameron and Tyler Winklevoss, the co-founders of the newly public crypto exchange, Gemini.
The crypto entrepreneurs have predicted that the foremost crypto could rocket to as high as $1 million in 10 years, citing their long-held view that BTC represents a modern-day version of gold.
Winklevoss Bros Foresee $1 Million Bitcoin Price Tag
Speaking to CNBC’s Squawk Box, Tyler Winklevoss posited that Bitcoin has come a long way since they launched their crypto exchange over a decade ago.
Winklevoss recalled that the two spoke on CNBC back in 2015, when the apex crypto was changing hands for only $350 per coin. Now it’s trading just below $116,000.
“We think there’s easily a 10x from here,” he opined. “It’s still really early, and I think we’ll be sitting here 10 years from now looking back and saying, ‘Wow, today was really early.’”
The Gemini executive argued that if Bitcoin successfully disrupts gold’s role as a store of value, its price could soar to $1 million.
“It’s still very much the bottom of the first inning, because we see Bitcoin trading at 1 million dollars a Bitcoin, if it disrupts gold,” he added. “And we think Bitcoin is gold 2.0.”
Cameron Winklevoss added during Friday’s interview that he thinks Bitcoin will act more as a store-of-value than a payment currency. “We don’t think it actually has to be a transactional currency — just like you’re not trying to buy a cup of coffee with gold,” he postulated.
The Winklevoss brothers have both been very vocal in their support of Bitcoin, which is understandable given that they missed the opportunity to cash in on tech giant Facebook. The Winklevii are avid Bitcoin advocates and big investors — arguably the first Bitcoin billionaires after early investments in the digital coin.
Gemini’s Successful IPO
Gemini Space Station surged in its Nasdaq debut on Friday after raising $425 million in an initial public offering (IPO), signaling strong institutional demand for crypto-related equities. The exchange priced its IPO late Thursday at $28 per share, valuing Gemini at about $3.3 billion before trading started.
Notably, Gemini moved quickly from filing its Form S-1 with the US Securities and Exchange Commission to debuting on the Nasdaq. The exchange filed its IPO registration on Sept. 2 and kicked off trading just 10 days later.
Gemini is the third exchange to go public in the United States after Coinbase and Bullish.
Source: https://zycrypto.com/winklevoss-twins-forecast-bitcoins-meteoric-surge-to-1-million-as-gemini-goes-public/
