Gemini CEO and Bitcoin billionaire Tyler Winklevoss is telling investors that there will come a time when Bitcoin holders will not have to sell their BTC holdings, ever.
At the ongoing Bitcoin 2021 Conference in Miami, the co-founder of the crypto exchange says that Bitcoin is still in the early days despite its recent run above $60,000.
“We think Bitcoin is gold 2.0. It will disrupt gold so its market cap has to be $10 trillion or more because that’s the market cap of gold. Bitcoin’s hovering around $1 trillion now. We still think it’s at least conservatively a 10x from here.
Even at $35,000 it feels like a really good buying opportunity long term because we think at a $10 trillion dollar market cap, we think one Bitcoin will be worth $500,000 and we think that could happen inside this decade, definitely the next five years.”
Winklevoss highlights that once Bitcoin hits his price target, investors can leverage their BTC for whatever purpose, eliminating the need to sell it.
“We’re HODLers at least until $500,000 and then at that point you won’t even have to sell because you can borrow off or whatever.”
The crypto billionaire goes so far as to say that he sees the possibility of Bitcoin becoming an interplanetary currency.
“Our gold 2.0 thesis is that Bitcoin disrupts gold and we think that’s the conservative bull case… It’s an open-source project that continues to evolve and can do so much more. It can become the global reserve digital currency of the world, of the galaxy like when we get to Mars.”
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/ Titima Ongkantong/zhu difeng