The Winklevoss twins, Tyler and Cameron, have seen their status upgrade after the recent Bitcoin boom. It made both twins become billionaires.
In 2017, the twins were crypto billionaires when Bitcoin surged to a record until the digital asset plummets again. However, Bitcoin recently hit an all-time year high at $15,950. The last time the crypto surged that high was in 2018. The recent surge had so much impact on the Winklevoss twins’ wealth.
The tech giants back in 2013 bought Bitcoin worth $11 million. Afterward, they became evangelists and started their crypto firm, Gemini Trust Co.
Bitcoin boom still imminent amidst recent surge – Winklevoss twins
The value of Bitcoin this year has doubled. This was fueled by many factors, including fears that massive central bank easing and fiscal stimulus will debase currencies.
In light of this, the Winklevoss twins believe that the Bitcoin Boom would not come to a halt anytime soon. According to Tyler, Gemini’s chief executive officer, he said that BTC price is being driven by all of the money printing and uncertainty in the world. Sighting US governments’ stimulus packages, he said they are free advertisement for Bitcoin because more cash in the economy would reduce the value of the US dollars.
He stated that because the government can print dollars out of thin air, a great future abounds for Bitcoin. The twins also called out the impact of a lot of money (stimulus package) on the US economy and US dollars.
The only future refuge is Bitcoin – Tyler Winklevoss
While reiterating that Bitcoin boom would continue to be experienced, the Gemini CEO said it would be the refuge in the future.
He said that eventually, when the value of the US dollars crashes owing to over circulation in the economy, Bitcoin would be the only refuge.
At the time of writing, Bitcoin trades at $15,367.