Today, yes, the asset has suffered a few setbacks in recent times, but was trading below the $35k mark with a correction of about 9% in the past 24 hours.
At the Miami BTC conference 2021, a discussion between the brothers and Morgan Creek’s Anthony Pompliano was kicked off by directly talking about the evergreen debate – Gold vs BTC. The twins stated:
“We still think it’s really early. We think bitcoin is gold 2.0. It will disrupt gold so its market cap has to be $10 trillion or more because that’s the market cap of gold. Bitcoin is hovering around $1 trillion, we think conservatively it’s at least 10x from here. Even at $35,000, it feels like a really good buying opportunity long-term.”
BTC underwent a few setbacks, especially after hitting an ATH in April, but the drive to ‘buy the dip‘ has been echoed on crypto twitter. Winklevoss stated:
“We think Bitcoin will be worth $500,000 and we think that could happen inside this decade, definitely the next five years.”
Safe to say that the Gemini executives claimed to stay on the path of long-term HODLers at least until Bitcoin hits $500,000.
The host further shed light on a paper, published last year. Tyler Winklevoss, the main author was quick to highlight the possibility of Bitcoin becoming a currency as a part of this report.
Cameron Winklevoss added:
“The thesis hasn’t really played out yet, We’re like one-twelfth of the way there. When we wrote that thought piece in August (last year) bitcoin was at $13,000 and it hit $64,000 (in April this year).”
Can these billionaires still have a FOMO? Well, surprisingly the answer remains YES.
Tyler Winklevoss certainly stated in the affirmative. He opined:
“We wish we bought earlier, we wish we bought more, and everyone says that no matter how much you have. We’ll look back on today and say ‘we wish we bought at $35,000’.”