Tyler and Cameron Winklevoss Talk About Their Early Investments In Bitcoin and Its Future Outlook
- The Winklevoss twins explained how they started investing in Bitcoin
- Facebook is expected to release a new digital asset in the near future
Both Tyler and Cameron Winklevoss, known around the world for being recognized billionaires and entrepreneurs, appeared on CBS Sunday Morning and talked about Bitcoin (BTC) and their investments in the most popular digital asset.
The Winklevoss Brothers Talk About Their Investment In Bitcoin
The twins invested in Bitcoin when it was still traded close to $100, which allowed them to be early investors in one of the most profitable assets in the last years. Nowadays, each Bitcoin can be purchased above $9,000 and its price skyrocketed in December 2017 when it could be traded for $20,000.
About their investments, the twins commented:
“Our thesis at the time was bitcoin’s going to disrupt gold. And gold has a market cap of $7 trillion today. So if bitcoin’s going to be worth $7 trillion or more, this seems like a cheap asset. It was a complete Wild West.”
It is worth mentioning that the status that the brothers gained on the crypto market is related to the fact that they received a settlement from Facebook’s CEO Mark Zuckerberg. Nowadays, there are several reports that confirmed that Facebook is going to be releasing its own cryptocurrency.
At the moment, Facebook received the support of a large number of companies, including MercadoLibre, Uber, Mastercard, Visa and PayPal. All of them could be investing $10 million each in order to be part of the upcoming blockchain network that Facebook is working on.
At the same time, Facebook could unveil a new digital currency called Libra or GlobalCoin. Apparently, this digital currency is going to be used by users of Facebook Messenger, WhatsApp and eventually Instagram.
A few hours ago, Bitcoin was able to surpass $9,300, the highest price reached by the digital currency in more than a year. Enthusiasts and investors are now waiting for the virtual currency to surpass $10,000, a very important psychological mark that would confirm that the cryptocurrency is here to reach new highs.
Currently, Bitcoin has fallen down to $8,870 and it has a market capitalization of $157 billion. In the last 24 hours, the virtual currency grew by 0.6%.