And Ethereum will eventually be worth 75,000 per coin
As early as late 2020, Tyler and Cameron Winklevoss – co-founders of the Gemini cryptocurrency and former Olympians – made a bold prediction. The twins believe Bitcoin will soar to $ 500,000 in the next decade as it outperforms gold as a store of value.
“The question on our mind is that it’s not so much about $ 500,000 as how fast,” Tyler said during a podcast on October 23 episode.
“I would argue that $ 500,000 per bitcoin is actually pretty conservative and the game hasn’t really started yet,” added Cameron.
Bitcoin is better at being gold than gold, the twins say. Both are rare, fungible, and divisible, but Bitcoin is much more portable and therefore more efficient.
Tyler continued the metaphor and described Ethereum as a digital oil that fuels a protocol layer on which decentralized applications can be built with their own tokens. In other words, Ethereum will be the backbone for a new internet age, much like oil is the backbone of our society today.
That brings us to this day.
Bitcoin had a brutal sell-off last week with the leading virtual currency briefly falling below $ 30,000. Nevertheless, the twins say that they are interested in “hodeling” or holding onto their Bitcoin for their dear life.
“I’ll hodl up to $ 500,000 and after that I’ll still hodl,” Tyler said in one current interview.
“We are at the beginning of something as important as the Internet itself.”
According to the twins, cryptocurrency is a cross-generational asset. It is something that you will pass on to your children and your children’s children.
Additionally, this will lead to a generation change in America, making millienials the richest group of all time. This prediction is supported by increasing amounts of US money pressures.
Inflation is coming, the twins said recently blog entry. Money stored in a bank is run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or bitcoin will escape the scourge. And money stored in Bitcoin runs the fastest, overtaking gold.
According to the Congressional Budget Office projectionsThe U.S. will have a deficit of $ 3.7 trillion in 2020 and $ 2.1 trillion in 2021, bringing the total to $ 29 trillion by September 2021.
And don’t forget that one fifth of all dollars ever created was made last year alone.
Learn from the Winklevoss Twins: Hodl, how your life depends on it.
Bitcoin is not going anywhere. US regulations are a bad idea that will only harm legitimate businesses and empower illegal businesses. It will also leave Bitcoin on the table for another world power like China or Japan to take over.
In the meantime, Ethereum – the world’s second largest cryptocurrency – has taken a hit Record high yesterday. Crypto is strong in 2021 despite some early bumps.
Lots Experts | predict that three to five cryptocurrencies will reach mainstream popularity in the next decade. It is certain that Bitcoin and Ethereum are among these options.