Crypto-billionaire and Gemini CEO Tyler Winklevoss is still very “bullish” when it comes to the future of Bitcoin (BTC). He explained why the leading cryptocurrency could become the world’s digital reserve currency.
Bitcoin at $500,000 in the next few years?
Tyler Winklevoss spoke at the Bitcoin 2021 Conference, which took place this weekend in Miami. The billionaire confirmed his confidence in the future of Bitcoin, which he compares to gold:
“We think Bitcoin is gold 2.0. It’s going to destabilize gold, so its capitalization must be $ 10,000 billion or more, and it’s around $ 1,000 billion right now. We think it will do at least X10.”
Bitcoin, a future reserve currency according to Tyler Winklevoss
Tyler Winklevoss, who calls the $35,000 threshold a “buying opportunity,” says he and his brother continue to believe BTC will exceed $500,000 over the next decade, if not the next five years. Even more optimistic, the CEO of Gemini thinks that Bitcoin could become an international benchmark:
“It’s an open source project that continues to evolve, and there is so much more that it can do. It can become the global digital reserve currency of the world, or even the galaxy when we visit Mars.”
Bitcoin struggles to recover from its fall
Tyler Winklevoss’s optimistic predictions could reassure some investors upset by the complicated month that Bitcoin has just experienced. The price of BTC has also experienced two successive drops at the end of last week, from which it has not yet recovered.
The leading coin was hovering around $40,000 on Thursday but dropped to $34,700 over the weekend. Since then, the price of BTC has ranged between $35,000 and $37,000.
The market capitalization of BTC has fallen to $680 billion, with the coin down 38% in the past month. However, its growth in the past 12 months remains positive at +278%. It remains to be seen how it would fare in the coming days.
