Tyler Winklevosswho doesn’t by the bush, told CNBC that “Cash is rubbish”. In her opinion, It’s only a matter of time before investors drop the dollar and other fiat currencies for BTC:
“At some point, it’s difficult to look at those data points and say that Bitcoin isn’t an incredible store of value.”
His twinbrother Cameron Winklevoss said that too Bitcoin (BTC) “just has to be better than gold” for its value to rise to remarkable levels.
The twins who run the US-based cryptocurrency exchange, Twins, You think, that BTC will eventually hit $ 500,000reflective a recent forecast by Catherine Wood, CEO of ARK Investment Management.
Cryptocurrency enthusiasts believe that Bitcoin’s recent advancement differs from previous market cycles due to the influx of institutional investors into the space. Bitcoin’s leap in maturity also suggests this The digital currency has a permanent place in the financial system.
As Tyler Winklevoss suggested Bitcoin’s adoption curve is accelerating amid fears of a historic deterioration in national currencies such as the US dollar. Those downgrading fears were at the center of a June forecast by Goldman Sachs, Demand for higher gold prices.
In contrast to Bitcoin The gold price has fallen over the past few monthsand the spot price is now trading 14% below the all-time high in August.
The bullion market has seen significant exits in the past few weekswhile Bitcoin holders have amassed even larger positions. Raoul Paul, CEO of Real Vision Group, Recently told his Twitter followers that You liquidate your entire gold portfolio for Bitcoin and Ether (ETH).