Winklevoss twins forecast Bitcoin to reach $1 million, disrupting gold

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Gemini cofounders Tyler and Cameron Winklevoss expressed strong confidence in Bitcoin’s (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) future, predicting it could reach $1M per coin if it successfully disrupts gold.

“We think Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) is gold 2.0. We think there’s easily a 10x from here, and it’s still really early,” the Winklevoss twins said in an interview with CNBC.

The twins highlighted how far the cryptocurrency ecosystem has evolved since they launched Gemini in 2015, when Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) was trading at just $380. What began as a platform focused solely on Bitcoin has expanded to offer more than 100 different tokens. Despite this growth, they emphasized, “we think it’s actually just the beginning.”

Crypto exchange Gemini has priced its IPO [https://seekingalpha.com/news/4494446-crypto-exchange-geminis-shares-estimated-to-open-21-above-ipo-price---report] above the expected range, selling 15.2M shares at $28 each and achieving a valuation exceeding $3B as it lists on Nasdaq (COMP:IND [https://seekingalpha.com/symbol/COMP:IND]) under the ticker (GEMI [https://seekingalpha.com/symbol/GEMI]).

Gemini’s differentiation in the competitive crypto exchange landscape includes their credit card offering, which provides up to 4% back in cryptocurrency rewards with each purchase, they said.

The Winklevoss twins maintain that Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) doesn’t need to function as a transactional currency to succeed.

“We don’t think it actually has to be a transactional currency, just like you’re not trying to buy a cup of coffee with gold. It’s a store of value,” they said, emphasizing Bitcoin’s fixed supply as a key advantage over gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]), which experiences slight annual expansion through mining.

Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) has recently surpassed $115,000. It is up almost 22% year-to-date, although down 0.32% on Friday.

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