Winklevoss Twins: Bitcoin Has Potential To Grow At Least 30-fold In 10 To 20 Years
09 Februar 2018 - 11:03AM
ADVFN Crypto NewsWire
Another Bitcoin prediction was made this week by Winklevoss
twins - the famous Bitcoin billionaires. Bitcoin has “potential
appreciation” of thirty to forty times its current value, Cameron
Winklevoss claimed in an interview with CNBC on Wednesday, Feb.
7.
At press time, the market capitalization of Bitcoin was just
below $140 bln, following a huge sell-off on Tuesday, Feb. 6 which
has seen the cap drop as low as $102 bln.
That would put the Winklevoss’ estimation of Bitcoin’s future
market cap at over $5 trln. This number comes from a comparison to
the $7 trln global gold market, which the brothers claim Bitcoin
will disrupt.
According to CNBC, the Winklevoss brothers were looking at a
period of 10 to 20 years in their prediction.
In response to the recent criticisms of cryptocurrencies by
representatives of J.P. Morgan and the officials present at the
World Economic Forum (WEF) in Davos, Tyler Winklevoss argued that
digital currencies will be a great instrument of machine-to-machine
transactions.
“Cryptocurrencies aren't really important for human-to-human
transactions ... but when machines-to-machines trade economic
value, they are going to plug into protocols like bitcoin and
ethereum. They are not going to open bank accounts at J.P. Morgan
... those were invented by bankers before the internet existed,"
Tyler stated, adding that "the criticisms are just a failure of the
imagination."
Earlier this week, Cointelegraph reported on a number of experts
who shared a similarly bullish outlook on the price of Bitcoin,
predicting that it will reach $50,000 by the end of 2018, resulting
in a total cryptocurrency market cap of $1 trillion.
By Helen
Partz
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