BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss

BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss

Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s «Ask Me Anything» sitting. There, the twin brothers have reaffirmed their belief in the «big daddy,» saying it will exceed the $7 trillion gold market cap.

Moreover, they also confirmed they do not plan to give up on launching their bitcoin-ETF, which has received red light form the American securities agency several times.

The Wave of BTC Acceptance Will Rise, Winklevoss Believe

As of press time, bitcoin is being traded at $4,061 and is showing an almost 1% growth. Meantime, its total market cap constitutes $70.95 billion. Winklevoss brothers believe, however, that the wave of adoption of bitcoin will grow and we are yet to see its sky-high price.

In the Reddit thread, the Gemini exchange founders predicted bitcoin to pass that of gold. They said that "big daddy" market cap will be able to surmount the $7 trillion margin.

During the session, Cameron Winklevoss particularly said:

“Bitcoin is certainly the OG [original] crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”

His brother appeared to be not less enthusiastic, saying that their «thesis around» BTC’s upside remains the same. Previously, the twins appeared on Reddit around four years ago, promoting almost identical views.

«We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the (approximately 7 trillion) dollar market cap of gold,» explained Tyler Winklevoss.

According to such presumptions of Winklevoss, a bitcoin’s unit would cost $333,333.

Winklevoss Won’t Give Up on Bitcoin-ETF

Also, the twin-entrepreneurs made it clear that they are strong-minded in making Bitcoin-ETF a reality.

Note that the American SEC has already twice rejected the application of the brothers’ Gemini platform to start Bitcoin-ETF, particularly, in March 2017 and July 2018.

Need For Fiat & Thoughts on Blockchain

Cameron Winklevoss said that cyber-coins still need public currencies (fiat). However, added he, in future all assets are likely to be digital.

In addition, the entrepreneurs expressed confidence that the unaltered ledger tech trend cannot be viewed self-sufficient without bitcoin and its pals. DLT without cyber-assets is the same considering AOL a full-fledged Internet.

Background

Since setting up the regulated American crypto swapping and trading platform Gemini, the Winklevoss brothers have piled vast sums into BTC's success. And that is in spite of opening up trading of bigger market cap BTC brethren.