Bitcoin’s recent price surge has gotten the entire cryptocurrency market talking and it does not look like the phenomenon is about to end anytime soon. The moment the industry predicted a bear run, the world’s largest digital asset took a u-turn to climb to near bullish territories.
Another reason for Bitcoin’s rising popularity has been its proponents trying their level best to push the cryptocurrency into the mainstream fore. A big part of this has been played by the Winklevoss brothers, Tyler and Cameroon.
According to the founders of Gemini exchange, Bitcoin was on its way to disrupt the gold and investment market. The twins, who first shot to fame with Facebook, have become an integral part of the cryptocurrency market since they founded Gemini. The two have even brought in several institutional players into the digital assets space, mostly through collaborations and tie-ups.
The Winklevoss brothers spoke about how increasing Bitcoin holdings was the way to go for the future of the decentralized financial ecosystem. The two brothers were present at the recently concluded Crypto Finance Conference where they spoke about the roadmap for Bitcoin as well s the cryptocurrency industry. Tyler Winklevoss stated:
“If you have gold, start building up bitcoin reserves. We think bitcoin will disrupt gold. Once the likes of Tesla’s Elon Musk or Amazon’s Jeff Bezos start mining gold on asteroids, which will happen within 25 years, gold’s value will change.“
The Gemini officials also gave their two cents on the recently Bitcoin price surge that has gotten the entire cryptocurrency market flustered. The Winklevoss twins revealed that they were still bullish on Bitcoin, despite many claiming that the latest surge will be short-lived. The twins reasoned that Bitcoin would only see its price go up because of the upcoming BTC halving slated to occur this May.
Bitcoin enthusiasts have drawn parallel to the fact that the cryptocurrency’s price shot up during the last two halvings. Although there is no conclusive proof that a halving correlates to a direct boost in prices, it is still a marker for positive sentiment in the Bitcoin industry. Although the regulatory climate had improved in the United States, the Winklevoss twins believed that other countries such as China were far more superior in terms of FinTech developments. Tyler added:
“The U.S. has been slow. China will likely issue a stablecoin first. This could be the first in modern times that the U.S. hasn’t been first on something like this.”
Gemini was serious about the importance of the Chinese market because of its pipeline plans to enter the Red Dragon. Although no concrete plans have been set yet, the fact that major organizations were considering China was a clear indication of its prowess in the digital assets industry.
The buzz has been all about Bitcoin because of how quickly it rectified its bearish nature in 2020. At press time, Bitcoin was trading for $8,660.48 with a total market cap of $157.302 billion. After a week of steady growth, the BTC 24-hour market volume was at $35.134 billion.
