One of the Winklevoss twins, Cameron, has declared that the price of bitcoin will increase to forty times of what is now in future, in probably ten to twenty years.
As reported by Coindesk, the recovered price of cryptocurrency in the global trade exchange is one-hundred and thirty-five billion dollars. Winklevoss has predicted a sharp rise to some 5 trillion dollars in future. Winklevoss, in his speech of comparing gold with bitcoin, said that bitcoin is the “better gold and an asset yet unappreciated” with its fixed supply compared to the scarcity of the metal added with more portability, fungibility, and durability.
Bitcoin has witnessed a reckless upheaval in its price within the last few weeks, along with highly negative criticism. The digital currency has been labeled as fraudulent, ominous and even held in a derogatory light that its market value would collapse to zero. The CEO of JP Morgan Chase dismissed the coin as a scam whereas Sachs issued a note on the value collapse.
But Winklevoss has refuted all this criticism as a dearth of imaginative power and optimism. The twins resolved the disagreement with Zuckerberg regarding the prerogative that the latter had stolen the idea of Facebook as a social media network from them. Cameron and Tyler described trading in cryptocurrency more as a machine to machine transactions rather than human to human transactions. He said that bitcoins are not ordinary banks that existed before the internet was invented and implemented in such a widespread manner all over the world. Bitcoin is decentralized and not governed by regular banking norms and regulations. He described Bitcoin as a protocol for machines to plug into to carry out transactions on a worldwide basis.