Bitcoin Price Will Hit $320,000 Says Winklevoss Twins

Winklevoss Twins Give Bullish Predictions About Bitcoin By Saying Bitcoin Price Will Multiply 40 Times

The journey of Bitcoin has indeed been an awe-inspiring one starting from the time when Bitcoin price equalled a few cents to modern days where you will have to shell out a considerable corpus for directing a single unit towards your wallet. In this journey, Bitcoin has received the support and appreciation from a large number of market maestros, the Winklevoss twins being the biggest ones.

At the time of publishing this article, Bitcoin price was around $8000 but Cameron Winklevoss feels that investors can expect the price of Bitcoin to pump up by 40 times “someday.”

This bold prediction was made by Cameron on Wednesday at the Milken Institute’s MENA Summit where he pointed out that:

“Taking bitcoin in isolation […] we believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. Its sort of equals a better gold across the board.”

Tyler Winklevoss has previously defended Bitcoin against critics such as Warren Buffett, J.P. Morgan CEO Jamie Dimon and Goldman Sachs. Dimon had made the infamous comment of calling Bitcoin a “fraud” whereas Buffet claimed that crypto was destined to face “a bad ending” and Goldman Sachs predicted that cryptos will lose all of its value eventually.

Tyler Winklevoss argued that these virtual tokens can be the perfect instrument for fostering machine-to-machine transactions by stating that:

“Cryptocurrencies aren’t really important for human-to-human transactions … but when machines-to-machines trade economic value, they are going to plug into protocols like bitcoin and ethereum. They are not going to open bank accounts at J.P. Morgan … those were invented by bankers before the internet existed,” Tyler stated, adding that “the criticisms are just a failure of the imagination.”