TL;DR Breakdown
- Gemini Trust could potentially go public.
- Billionaire brothers notice a surge in popularity with cryptocurrencies, express interest in going public.
- BTC called the “door” to the world of cryptocurrency.
Cameron and Tyler Winklevoss, billionaires and magnates in the Bitcoin industry, have freshly released a statement saying they are considering the possibility of taking Gemini Trust Co. public due to the sudden explosion in interest for cryptocurrencies.
Cameron Winklevoss, Co-founder of the New-York digital firm, has stated this shocking fact during an interview, openly admitting that the possibility isn’t so far-fetched due to how popular cryptocurrencies are becoming once again.
BTC went from a speculative trade to a sound investment
Over the past four years, BTC has gone from a speculative trade to a sound investment, quadrupling in value and generating some form of “cryptomania”. A highly volatile asset, and also a must-have in the portfolio of risk-takers, Bitcoin’s popularity might be the direct cause for the popularity of lesser-known currencies, such as Ethereum and Litecoin.
The Gemini Trust Co’s IPO is a significant event for anyone interested in Bitcoin. The brothers who sued Mark Zuckerberg for stealing ideas offer an exchange and a custody service, including a debit card specialized in Bitcoin functionalities. On top of working like any other debit card, this card offers a 3% cashback in BTC or any other cryptocurrencies. This would potentially mean investors could make more money the higher they spend on regular pleasures such as food, leisure activities, and others.
Gemini Trust Co. going public, a new exciting opportunity
“Cash is trash” tweeted Mr. Winklevoss, referencing a theory in which inflation is bound to destroy the US dollar. The Winklevoss twins were the first to offer an ETF based on crypto in 2017. However, this proposal was refused due to how new the market was, and the lack of regulatory oversight then.
However, with the possibility of Gemini Trust Co. going public, a new exciting opportunity might soon be reality: The possibility of making BTC by spending money.
Additionally, the Winklevoss twins are still interested in offering a Bitcoin exchange-traded fund, coming back from their rejection in 2017. Is it time for a Bitcoin ETF?
