Not one to mince words, Tyler Winklevoss reportedly told the business network CNBC that “Cash is trash.” In his view, it’s only a matter of time before investors dump the dollar and other fiat currencies for BTC:
“At some point, it is hard to look at those data points and say that Bitcoin isn’t an incredible store of value.”
His twin brother Cameron Winklevoss also said that Bitcoin (BTC) “just needs to be better than gold” to see its value rise to remarkable levels.
The twins, who run the United States-based cryptocurrency exchange Gemini, believe BTC will eventually hit $500,000 — mirroring a recent forecast from Catherine Wood, CEO of ARK Investment Management.
Crypto enthusiasts believe Bitcoin’s recent run-up is different from previous market cycles because of the influx of institutional investors into the space. Bitcoin’s maturation leap also suggests that the digital currency is carving out a permanent place in the financial system.
As Tyler Winklevoss…