Bitcoin is a better gold than gold itself, Tyler Winklevoss says
Bitcoin may never escape its ongoing comparisons to gold. According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game. "Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better," Winklevoss said in a Sept. 21 tweet. Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way. For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold;....
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The Winklevoss Twins have described Bitcoin as better than gold because it experiences ‘a lot less volatility’ and is a better store of value at the moment. They cited a Wall Street Journal story in May which described how the virtual currency has been more stable than gold over the last 28 days. Tyler Winklevoss said: “So I think investors who have gold in their portfolio and other precious metals have started to look to Bitcoin as a better store of value. It’s got better characteristics than gold itself. So it’s actually better at being gold than gold. We are seeing investors recognise....
The Winklevoss twins say Bitcoin is “better than gold” as they continue to press for regulatory approval of their Exchange Traded Fund COIN. Bitcoin: The Greatest Social Network of All. Following their much publicized legal battle with Zuckerberg the twins were first introduced to Bitcoin in 2012. They were impressed by its possibilities to provide cheap, efficient banking services. Allowing accessibility to these for the ‘unbanked’ also inspired them. Tyler Winklevoss acknowledged: We see bitcoin as potentially the greatest social network of all. But more than this, they saw the potential....
In a televised interview, the Winklevoss Twins state that bitcoin is more stable than gold as a store of value, opining that investors are starting to look at storing their wealth in the cryptocurrency. The Winklevoss Twins are understandably going through a press-tour, plugging their Gemini exchange which began operations in Canada yesterday. Speaking to Bloomberg in an interview, the twins vouch for bitcoin as a better store of value than gold, noting that investors who hold precious metals in their portfolio are considering bitcoin as a better store of value. Cameron Winklevoss opined....
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....
Last year, the Winklevoss twins predicted that Bitcoin is set to become Gold 2.0, right now it's starting to look as if they might well be right. Every day, according to estimates, around £220bn of gold changes hands in London. The gold price has been set since 1919 by the London Gold Fix. but, of late, the gold fix mechanism has been somewhat losing its luster. There have been growing concerns that the London Gold Market Fixing Limited, which is owned by Barclays, HSBC, Société Générale and Scotiabank, may have been manipulating, or at the very least allowing the gold price to be....