BITCOIN To Surpass GOLD Market Cap? Says Who?

Winklevoss Twins

Quick answer to the headline – the Winklevoss brothers (twins), that’s who.

Obviously the twins are extremely bullish (and biased) on bitcoin having launched a US regulated cryptocurrency exchange and trading platform. Also, they have been very active in trying to get SEC approval for a bitcoin ETF (alas, to no avail so far) as well as championing other bitcoin (crypto) ventures. But their enthusiasm has also spawned a prediction that bitcoin will surpass gold’s $72 Trillion market cap at some point. To quote;

“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.”

Being very bullish on bitcoin (cryptos) I love to hear that sweet talk, but $72 Trillion? Maybe? Read on.

Bill Taylor/Fintek Capital

“On social media, entrepreneur and Proof of Keys organizer Trace Mayer joined Tyler and Cameron Winklevoss in contemplating a bullish future for Bitcoin.

Since launching regulated US cryptocurrency exchange and trading platform Gemini, the Winklevoss twins have staked huge amounts on Bitcoin’s success, despite opening up trading of larger market cap altcoins.

“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,” Cameron Winklevoss said during the pair’s Reddit Ask Me Anything session Monday.

His brother was no less enthusiastic.

“Our thesis around bitcoin’s upside remains unchanged,” he said discussing their position on cryptocurrency since their last Reddit appearance in 2015…”

Full Story at Bitcoinist