Fresh bitcoin billionaire Winklevoss sees cryptocurrencies heading much higher
&ldquo,Wij&rsquo,ve always felt that bitcoin, given its properties, is gold Two.0 &mdash, it disrupts gold. Gold is scarce, bitcoin is actually immobile. Bitcoin is way more portable and way more divisible. At a $300 billion market cap, it’s certainly seen a loterijlot of price appreciation, but gold is at $6 trillion and if bitcoin disrupting gold is true and it plays out. then you can see Ten to 20 times appreciation because there is a significant delta still,&rdquo, Cameron Winklevoss told CNBC on Friday.
&ldquo,Long term, directionally, it is a multitrillion-dollar asset &mdash, I don&rsquo,t know how long it takes to get there,&rdquo, he added. Winklevoss disputed suggestions by some analysts that the rapid rise of cryptocurrencies ter latest months is a massive bubble.
&ldquo,Wij&rsquo,ve seen the bubble term thrown around and it&rsquo,s just not the right way to look at this,&rdquo, he explained. &ldquo,Social networks grow ter value exponentially based on the number of users and participants. The difference inbetween one and 100 is dramatic &mdash, 100 and a million is that much more dramatic and arousing. Spil more people join it gains more value.&rdquo,
When asked whether people should invest te something they do not understand, Winklevoss said that it is not a problem. &ldquo,Most people don&rsquo,t know how the internet works but they are comfy using it,&rdquo, he pointed out.
Ter 2008, Tyler and Cameron Winklevoss famously lodged with Facebook founder Mark Zuckerberg overheen the eis that he stole their idea for the Facebook social network. The brothers used their payout to invest te bitcoin and recently made headlines by becoming the world&rsquo,s very first bitcoin billionaires.