Winklevoss twins tell Miami 2021 conference
They were cast as snobby rich kid villains in The Social Network but Cameron and Tyler Winklevoss are emerging as the darlings of the digital underground.
The 39 year old American identical twins, who co founded a social network while attending Harvard University and later accused Facebook founder Mark Zuckerberg of stealing their idea, are now big time bitcoin investors.
Their appearance came eight years after they first hermes goliath replica
gave a keynote talk at the conference and told few dozen attendees bitcoin, then priced around $150 per coin, was the future.
It now valued around $37,000 (USD) and the Winklevii, as they become known, have seen their combined net worth soar to $6 billion.
Tyler and Cameron Winklevoss on stage at the Bitcoin 2021 Convention. Picture: Joe Raedle/Getty ImagesSource:AFP
And despite a poor couple of months for cryptocurrency, which has seen bitcoin value plummet from a record high of $63,000 in April, they remain bullish about its future prospects.
The brothers played up to a rabid audience during a fireside chat with hedge fund founder Anthony Pompliano as Tyler referred to the US dollar on several occasions as the shtcoin and Cameron showed off a Against The Machine T shirt.
But it was their projections for the price of bitcoin that had the crowd really grinning.
still think it really early, Tyler said. think bitcoin is gold 2.0. It will disrupt gold so its market cap has to be $10 trillion or more, because that the market cap of gold. Bitcoin is hovering around $1 trillion, we think conservatively it at least a 10x from here. Even at $35,000 it feels like a really good buying opportunity long term.
a $10 trillion market cap we think one bitcoin will be worth $500,000 and we think that could happen inside this decade. We HODLers until at least $500,000. (Photo by Craig Barritt/Getty Images for FIJI Water)Source:Getty Images
The twins, who have an obvious interest in bitcoin viability because of their large holdings, not to mention Gemini, the cryptocurrency exchange they own, first spruiked their 2.0 thesis last year.
thesis hasn really played out yet, Cameron said on Saturday. 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). gold 2.0 thesis is that it disrupts gold, and that conservative, Tyler added. bitcoin is a lot more than gold. It an open source project that continues to evolve and can do so much more. It can become the global reserve digital currency of the world of the galaxy. When we get to Mars what the currency going to be on Mars? It not going to be dollars, no it going to be bitcoin.
is the world best hedge against inflation, it the hardest, soundest money so all of those folks who would have been calling bitcoin a fraud and were sceptical and saying not really into technology, I don get it they saw what was happening with fiat regimes, the US dollar, (which is) the ultimate shitcoin, he said. been having trillion dollar advertisements. The Fed is the biggest champion. wish we bought earlier, we wish we bought more, and everyone says that no matter how much you have, Tyler added. look back on today and say wish we bought at $35,000 finance world remains lukewarm about cryptocurrency as an investment play, including Scott Barefoot Investor Pape who has strongly warned against it.