Early cryptocurrency adopter Cameron Winklevoss, founder of Winklevoss Capital Management, says he believes Bitcoin is still in its early days and investing in BTC will pay off for those who are patient.
In a message to his 167,000 Twitter followers, Winklevoss, owner of the popular US-based crypto exchange Gemini, reminds crypto enthusiasts to focus on the math.
“There are less bitcoin (21 million) than there are millionaires in the world today (~36 million). It will pay to be an early bitcoin adopter.”
But given Bitcoin’s meteoric rise, along with tales of Lambo-driving millionaires and geeky teens who got in when Bitcoin was trading for just $100 because MIT administrators gave them 1 BTC each, observers on the outside often speculate that all of the upside is over.
Responding to a comment from a skeptical Twitter user who cautions that it may be too late to invest now and that the leading cryptocurrency’s early days might be over, Winklevoss counters,
“Nope. Still early days.”
In a new interview with Yahoo Finance, Tom Lee, partner and head of research at Fundstrat Global Advisors, charts Bitcoin’s trend moving forward.
“We’re really optimistic on crypto and bitcoin this year. Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.”
Highlight: “We’re really optimistic on crypto and bitcoin this year,” @fundstrat’s Global Advisors Managing Partner & Head of Research Tom Lee says. “Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.” pic.twitter.com/2tqzsuOV0m
— Yahoo Finance (@YahooFinance) February 4, 2020
Lee points out that Bitcoin was the best-performing asset class last year by “a factor of three.”
The Bitcoin bull adds that his firm thinks the return in 2020 will be “even stronger” because of geopolitical uncertainty and tension, including the deadly coronavirus; upcoming catalysts, such as the halving event in which the reward for mining new Bitcoin blocks is reduced by 50%, slowing new supply; and fundamental technological developments in the space.
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