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The anonymous digital currency known as Bitcoin is set to explode beyond $1 trillion, so says those famous Winklevoss twins.
Tyler and Cameron Winklevoss, best known for their legal battle with Facebook founder Mark Zuckerberg, are both major investors in the crypto currency.
They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express Visa, MasterCard and Western Union according to CNN Money.
The Winklevoss twins even believe Bitcoin has the potential to surpass gold in value.
"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 told CNNMoney. "We do feel those are very real possibilities."
That’s music to the ears of online gambling sites, who for some time have been resistant towards accepting the alternative currency
Still, the cyber currency has quite a way to go if it is to make the Winklevoss’ lofty target.
Current market cap for Bitcoin is less than $4 billion.
Source Gambling 911
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28 January 2015, 6:30 am #1
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Bitcoin | Set to Explode | to Over $1 Trillion in Value
Last edited by Panther Casino Affiliates; 28 January 2015 at 12:42 pm.
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28 January 2015, 2:07 pm #2
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This is likely the original source for the article.
https://www.gambling911.com/gambling-...on-012715.html
Rick
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28 January 2015, 3:55 pm #3
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And here is all you need to know to understand why they're talking Bitcoin up ...
Originally Posted by Panther Casino Affiliates
Winklevoss Capital, the family office led by two of the largest known holders of bitcoin – brothers Cameron and Tyler Winklevoss
Source : https://www.coindesk.com/winklevoss-c...dicate-launch/
They've bought a bundle of bitcoins - and have seen their investment drop from $1000 per coin to around $250 per coin in the last year. They're desperate for a price boost and will yap to any publication that will give them airtime.
It's called price spruiking ... and happened with tulips too!
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28 January 2015, 5:12 pm #4
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I do not think they bought at 1000. Most of the people bought at different prices.
Of course people who have Bitcoins will tell how perspective the btc is and they will own the bitcoins, because if anyone things it is a good investment, he will buy it.
On the other hand bitcoin haters will probably not have bitcoins or will short them and they will not trust it and they will tell to everyone like Warren Buffet, how stupid investment it is.
There is no objectivity. Everyone is fighting for his truth, for what he believes and his own portfolio of assets. I do not see anything wrong with it, tbh. I would see very suspicious if people who do not have bitcoins would fight for bitcoin as great asset. Or people who have bitcoins, who would tell others how big nonsense is to have bitcoin.
Everyone on the planet either has bitcoin or does not have it and to buy or not is the revealed preference; therefore nobody is objective and everybody is influenced. For sure people who have only USD or GBP do not cheer for-, wish for- or expect Bitcoin to become currency, because then the value of their currency would drop. If they wished, cheered etc. for Bitcoin, they would buy it and possibly justify bitcoin, their decision and opinion in public.
In short: it is a mistake to think that people who do not have Bitcoin (or another asset) have more balanced opinion about Bitcoin (or that asset), than people who bought Bitcoin (that another asset).If you talk to God, you are praying; If God talks to you, you have schizophrenia.
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28 January 2015, 6:01 pm #5
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They've headlined a value of $1 trillion - current values are around $4 billion - that's an increase of 250 x ...
FACT : My opinion of "NO it wont! Winklevoss is just talking it up" - is more balanced (more accurate) than that
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29 January 2015, 5:08 am #6
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It is hard to figure out the fair value of BitCoin. This currency is not backed by any economy nor backed by something "you can touch" like gold or silver, for example.
What is the fair value of BitCoin? $100 or $2000 ??? Nobody knows. If you know just tell me, please.
BitCoin also face competition from other crypto-currencies that are gaining ground like LiteCoin or DoggyCoin, to name a few.
... and do not forget about all that scandals with vanishing BitCoin e-wallets and the whole exchanges!
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