The optimism of the Winklevoss twins with regards to bitcoin and digital currency in general has long been a theme in the space, and a recent interview with CNN suggests that this optimism remains unwavering.
We reported last week that the twins are preparing to launch a regulated bitcoin exchange in line with their publicly traded ETF (scheduled to trade under the ticker COIN once launched), and the interview offers insight into what they believe bitcoin can be as it becomes more mainstream.
Namely, that bitcoin’s market capitalisation could rise to at least $400 billion over the next five years – interestingly a figure that equals the combined capitalisation of American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).
Further to this, they expect bitcoin could become a risk off asset – and store of value – serving a similar purpose to that of gold, currently.
Tyler Winklevoss stated:
If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap…We do feel those are very real possibilities.
Commenting on the recent dip in prices, Cameron Winklevoss said:
It’s a buying opportunity. We’ve never sold a Bitcoin. We’re in it for the long haul…People get fixated on the cost… It’s going to have lots gyrations. But it’s new and you have to bare with it.
Could bitcoin become the next risk off safe haven? If so, could we see a $1 trillion market cap? Only time will tell, but it’s good to see some optimism in the space!
Images from CNN.
