Bitcoin Will Cost 40 Times More, Says Cameron Winklewoss
February 12, 2018
A famous bitcoin billionaire Cameron Winklevoss is sure that the price of BTC will increase by 40 times. Currently, the market capitalization of the cryptocurrency is around $145 million. Hence if BTC costs 40 times more, it would be more than $5.5 trillion.
Winklevoss told CNBC at the Milken Institute's MENA Summit:
"Taking bitcoin in isolation … we believe bitcoin disrupts gold. We think it's a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it's better than scarce … it's more portable, its fungible, it's more durable. Its sort of equals a better gold across the board."
Cameron Winklevoss is confident that right now is a good time to buy Bitcoin, because the price has fallen. He also believes that despite the latest fall of the price if BTC, the cryptocurrency is still a very reliable asset with a large potential.
"So we [Winklevoss twins] think regardless of the price moves in the last few weeks, it's still a very underappreciated asset."
However, Cameron Winklevoss did not give an exact time period, in which Bitcoin will rise 40 times, although he noted that he and his brother are "taking a 10-to-20-year view".