Winklevoss Twins Support Bitcoin Industry

Winklevoss Twins Support Bitcoin Industry

You may remember the Winklevoss brothers from their war with Mark Zuckerberg over Facebook. Well, Cameron and Tyler are back and on a crusade to fully support the virtual currency, Bitcoin.

The value of the cyber currency fell by more than half in 2014 but the Winklevoss’ believe that its market capitalization may explode reaching $400 billion.

"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," Tyler Winklevoss said to CNNMoney. "We do feel those are very real possibilities."

Seeing the market cap reach $1 trillion is tough to imagine considering Bitcoin's current market cap is under $4 billion.

Bitcoin could fizzle out completely and Jeffrey Gundlach, the "bond king," said that the currency is "on its way to being relegated to the ash heap of digital currencies."

In 2013, Bitcoin reached its highest value at $1,200 for one versus its recent value of $265.

"People get fixated on the cost," Cameron Winklevoss said. "It's going to have lots of gyrations, but it's new and you have to bare with it."

In order to assist the cyber currency through its slump, the Winklevoss’ have developed a Bitcoin exchange for American customers called Gemini. The twins are aiming high with hopes that it will grow becoming the "Nasdaq of Bitcoin."

"If you like gold, there are many reasons you should like Bitcoin," said Cameron Winklevoss.

The currency is being used throughout various markets including online gambling. A new online casino, Miami Vice, focused on the use of Bitcoins just launched but one thing is for sure, Bitcoin has quite a ways to go to catch up to the value of gold.


CNN Money

“to assist the cyber currency through its slump”

  • What are you guys talking about? Gambling with bitcoin is about the only way a USA player to be treated fairly in the realm of deposits and cashouts. and once you are set up with a biycoin wallet you can easily exchange bitcoin to whatever currency you want.
  • Bitcoin is not dead but almost. It is not the right concept and it is a dead end. Last year I desperedly looked for casinos to play with BTC, in 2015 they are offering me some free chips. If you win 1 M BTC you might have problems to convert them:-)
  • Call me an old dog but i will stick to the options i know for now. I have seen where people are having a lot of luck with bit coins though. There are some great screenshots in the winning section from wins at bit coin casinos. Maybe a good sign.
  • I notice that preceding commenters, here, believe that even though bitcoins has shown a big loss lately that the large amount of people it has attracted will be enough to keep bitcoin going. I hope I have that right. I am also not familiar with bitcoin per se, but I did a little bit of a look into stock-market related write-ups, and kind of forged an opinion about market - well...can't call it 'manipulation', because that's pointing a finger that I don't have. But I'd call it something along the lines of minting more money when you are running out. You're not going to get a real, kind of, boost from it, because it's been added. Maybe the idea is that "...the internet is a domain, and therefore deserves a currency, and let bitcoin be "it"....", which is a bit smart, as far as trying to create and capitalize on a perceived market niche. But all the goods and services, etc, that would be associated with bitcoin are regulated by very real, shall we say 'non-virtual' ( statutes, and by-laws, and taxpeople, etc., etc. Thus, it is actually an expensive burden to the real currencies, should any trouble whatsoever be incurred in any bitcoin transaction. There's also the small mater of gangsterism -- to whom would that task fall, should gangsterism arise out of a bitcoin scheme? To what jurisdiction? I don't think bitcoin is as untarnished as "the general public" has thusfar been aware, and the story may clunk to a halt, like a rusty old jalopy.
  • Me too sharpe, I'm not so familiar but lately there is more and more reviews and more and more people are interested about this cyber currency. I think that in 15 years, or maybe earlier, Bitcoin will be the main currency when it comes to internet transactions. And it's value is dropping very fast, as I know, and that is effect of it's quick development and how more and more people become familiar with this currency and use I think it's value will keep to drop
  • I'm not very familiar in Bitcoin as a currency but lately heard about some new casinos like the Miami Vice and others that deal mainly in that cyber currency. So I guess there is a future for the Bitcoins although they drop radically in value for the last couple of years.

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