Winklevoss: Bitcoin Will Be Worth Trillions of Dollars

Cameron Winklevoss thinks the booming bitcoin market could reach much, much higher, saying the cryptocurrency’s current market value is still just a sliver of its potential.

“We’ve always felt that bitcoin, given its properties, is gold 2.0,” he told CNBC on Friday. “Gold is scarce, bitcoin is actually fixed. Bitcoin is way more portable and way more divisible [than gold].”

Winklevoss then compared bitcoin’s market cap, around $300 billion yesterday, with gold’s at $6 billion. “If bitcoin disrupting gold is true . . . then you can see 10 to 20 times appreciation because there is significant delta still.”

“Long term, directionally,” Winklevoss continued, “[Bitcoin] is a multitrillion-dollar asset – I don’t know how long it takes to get there.”

Cameron Winklevoss and his twin brother Tyler, who once argued they helped create Facebook, have turned $11 million invested in bitcoin in 2014 into more than $1 billion in value today…

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