[2018-02-08] Cameron Winklevoss Predicts 40X Increase For Bitcoin `Someday`

[Terraformer]

Bitcoin has come a long way since the time 10,000 coins were allegedly used to buy a pizza— and if you ask Bitcoin bull Cameron Winklevoss, the gold standard of cryptocurrency still has a long way to go.

‘IT’S ACTUALLY A BUYING OPPORTUNITY’

Today, one Bitcoin is worth just over $8,000 USD. But according to Cameron Winklevoss, investors can expect it to go up 40x “someday.”

Cameron made the bold prediction on Wednesday this week to CNBC at the Milken Institute’s MENA Summit while claiming Bitcoin is better than gold. He stated:

"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."

https://www.youtube.com/embed/4r6OpXO8AUQ

By Winklevoss’ logic, the argument that digital gold is actually superior to physical gold means the total market capitalization of Bitcoin should match, if not surpass, that of gold. He explained:

"So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it’s actually a buying opportunity, we think that there’s a potential appreciation of 30 to 40 times because you look at the gold market today, it’s a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, it’s still a very under-appreciated asset."

Whether or not Bitcoin is better than gold has been an especially contentious debate as of late. The World Gold Council has even published a report which claims Bitcoin could undermine central banks.

Continue reading >> http://bitcoinist.com/winklevoss-predict-40x-increase-bitcoin/

[Kprawn]

This can happen if the twins can fire up a Bitcoin ETF, but it looks unlikely that they would be trying that again? You cannot

use Gold as a comparison, because Gold investors are not really technologically inclined. When I first tried to explain Bitcoin to

my father, he clasped the Gold chain around his neck and told me this, "I invest in physical objects, not some digital creation."

Cameron should know better, he rubs shoulders with these old guys. 

[Samarkand]

...

my father, he clasped the Gold chain around his neck and told me this, "I invest in physical objects, not some digital creation."

Cameron should know better, he rubs shoulders with these old guys.  

This generation will eventually retire (=make no new investments) and the younger
generations are much more tech-savvy. If you grew up in a digital world with social
media and smartphones, cryptocurrencies are not really a problem in terms of usability.

I actually think Cameron Winklevoss´ prediction is pretty reasonable if we assume that some
of the bullish scenarios materialize:
-Bitcoin ETFs
-inclusion of Bitcoin into reserves of various Central banks
-Bitcoin becoming legal tender in more prominent countries (it already is recognized
as legal tender in Japan)
-future block reward halvings
...

[coin_lover]

Only possible if some countries use bitcoin a legal tender or there is mass adoption of bitcoin