The Winklevoss twins — Cameron and Tyler — are perhaps best known as Olympic rowers for the U.S. and their long and painful lawsuit against Facebook, in which they claimed Mark Zuckerberg stole their idea for the site.
The brothers are also huge Bitcoin enthusiasts, and now Cameron Winklevoss has taken to Reddit to chat a bit about the cryptocurrency, revealing some of his predictions for its future value and the reasons behind his enthusiasm for Bitcoin.
Winklevoss, who along with his brother has a very heavy investment in Bitcoin, thinks the digital currency might easily become 45 times as valuable as it is today (roughly $900 per bitcoin).
“Small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don’t know, but if it happens, it will probably happen much faster than anyone imagines,” wrote Winklevoss.
He also wrote that he never sold a single Bitcoin, which he views as “commodity money.” He also expressed his views on the recent closure of internet’s black market Silk Road, where Bitcoin was used for transactions.
“The Silk Road closure, and resulting price gains demonstrate how the demand for BTC has little to do with illicit transactions. If anything, Silk Road was holding Bitcoin back by disproportionately dominating its narrative in a negative way.”
And, speaking about the volatiliy of Bitcoin’s price (the price has recently swung from roughly $1,200 to $600 and back to $1,000), Winklevoss is not worried.
“Some days I don’t even look at the price. I’m in this for the long-haul. Spartans hold,” he wrote.
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Image: Justin Sullivan