The Winklevoss twins: BTC future market cap at over $5 trln
If you follow any cryptocurrency media (I'm pretty sure you do) you might have read something about this:
In case you don't know, the Winklevoss twins are two of the biggest bitcoin investors and cryptocurrencies entrepreneurs in the world. They came to public attention after suing Facebook's founder Mark Zuckerberg for allegedly "stealing their idea" after they hired him to create a social network for Harvard students.
They ended up reaching an agreement for which they were paid around 65,000,000.00 USD. Then, they used part of that money (over 10 million) to become early investors in bitcoin. For this, back in december when BTC hit all time highs they were considered the first "bitcoin billionaires" in the world after their investment reached a value of more than 1 billion USD.
They are also the founders of Gemini, one of the main exchanges in the world that allows their users to trade crytocurrency and fiat currency.
In an interview with CNBC they shared some thoughts about the present and future of cryptocurrencies, and made it very clear how bullish they are about BTC's future by saying that it might apreciate it's current value by 30 to 40 times in the next 10 to 20 years.
They expressed how they believe that technology development might bring new uses for the blockchain platforms in the form of machine to machine transactions, and how this will help cryptocurrencies value to keep going up in the future.
I have to say that I agree with their vision, and I think that we have only just began to understand in how many different ways we could use the blockchain technology in general and bitcoin particular to develop new useful and fascinating projects.
What do you think about their prediction? Is it too bold? Or maybe too conservative?
Please share your thoughts
Never too bold when trying to attract new blood to the crypto universe! At the same time you don’t want to look like a fool. These two are no dummies and the are more than likely up to date on the current enemies of crypto. That being said if they were worried about sabotage from the banking industry or the handful of country controlling families (Rothchilds, Rockefellers, etc) right now we would see them making different moves. So I like the Bullish forecast they have been spreading and I hope the scum that have been stepping all over Blockchain tech for the last 2 years will eat their words! More and more people have been coming aboard from the average Joe to the hottest celebs so we are heading in the right direction!!!
I think you need to bet on blockchain tech not just bitcoin as this industry is going to grow and there won't just be one winner but many, dapps will change the face of cloud computing with blockchain being a massive upgrade on data security, availability and integrity.
Nem already does secure, permissioned file hosting baked into the wallet this is exactly what hospitals etc. should be using to securely share information to authorised persons only and on a granular level as it's far more robust, efficient and cost effective.
Ya I'm fairly diversified at this point but am thinking on changing the ratio. I'm invested in NEM and NEO. I'ts a race to the top and nobody knows who will win. I just got done having a back and forth with that jerk Peter Schiff on the comment section of one of his viceos!! That dude is a complete and utter disaster. He has no evidence that crypto will not survive. I tried giving him a chance but he had nothing. What he did have I shot down really quick. People like him want to funnel investor money into gold and silver because he has a huge stake in the game. Any realistic and half way intelligent person can see the value in crypto and its potential for solving many of humanities issues. You gave a perfect example pertaining the health care industry. This is just the beginning, the proverbial tip of the iceberg.!
Thank you for the votes ladies and gents I do appreciate. Good day....
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Great i will
I have no doubt the crypto market will be that big or bigger but whether it's BTC or ETH or STEEM or coins we've not heard of. That's the question. Cryptos bring banking to most of the world. In the west cryptos are not in fact that necessary as we have a robust banking system. But in most of the world people don't have bank accounts - a smart phone and a crypto gives them a bank account. Many countries have governments which will take their money (eg Greece) and Venezuela is on the brink of collapse right now. Inflation is so high there that there are people working full time walking the supermarkets raising prices. So when you take into account the world population the crypto market is huge.
Like with the tech boom - it's working out which are here to stay is the question. I listened to one commentator's video the other day and of the top 5 BTC is number 5. I can't remember 2/3/4. ETH was number 1.
Platforms like STEEM bring intrinsic value which many others don't.
google states 70 trillion is earned by the world in a year, so 5 trillion is not that impossible.
I think ethereum will do really well these coming years over bitcoin though, it has more reason to become valuable in my opinion.
Also i did watch a video where it says that once bitcoin has mined all its coin it might become worthless which is in about 50 years, but they do have some options round it its just if people take to it.
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Great post and thanks. I think those numbers are over-inflated by two guys with a history of hyping my friend. If you do the math, you will see that only two currencies have that type of "activity" and BTC shows every sign of it not becoming a currency. Currencies need to be stable for them to be adopted. i.e. if you want to buy milk both you and the grocer want to know how much it costs. If BTC appreciates that amount no one will sell and no one will take it so it will not be a currency. If it is a store of value like gold which is the other possibility, you have a similar problem, gold is also look at because it is stable.
So if BTC appreciates that much (and no sensible person thinks it can or will), you will neither have a currency nor a store of value, you will have what you have now which is a tool for speculation and the governments will not allow for their to be a $5T tool for speculation.
We already have a derivatives market for that which is currently under heavier and heavier regulation because it caused the crash in 2007. We should hope one of two things happens with BTC, that the prices stabilizes at whatever level so business and government can take a serious look at how to use it and two, that sensible regulation comes in so the games being played with it right now in terms of manipulation and scams get removed.
Then the industry particularly has a bright future at whatever level it achieves. Thanks and keep posting.
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I don't really know, for sure it will grow a lot but that much? Maybe. The story of how they got their first bitcoins is very interesting though!
Of course bitcoin will grow!Many predict this.. So we wait and believe!;)
It will reach a marketcap of $1trln for sure :) I expect it to happen within this year
i think we will hit 1tn by september.
Yeah I think that I would agree with you! :) Will you sell at $1tn?
I made that prediction too, but my predictions are not yet considered news ;-P
I think i’m going crazy or just to freaking excited about the near future🙃
I don’t think it will take that long for btc and the whole cryptomarket to 🚀🚀🚀
I think in the next 5 to 10 years 🤞🏾📈🚀♻️♻️♻️