Tyler Winklevoss about Bitcoin Reaching $500k, ETH $75k
Bitcoin is regularly being called Digital Gold, or Gold 2.0. Why are BTC and Gold stand so close to each other? Today’s gold market capitalization is $9 trillion, while the market cap of the most valuable cryptocurrency is $500 billion.
Bitcoin is Digital Gold
Tyler Winklevoss, famous American entrepreneur, investor, and founder of Gemini crypto exchange, believes soon Bitcoin will reach the gold market cap, meaning in these terms the price will jump to $500k:
“The entire price of gold is $9 trillion. If Bitcoin is Gold 2.0, and it disrupts gold, then its market cap also has to be $9 trillion…so it's (price) going to increase somewhere like from 25x-30x from here.”
Then Winklevoss added that BTC stands in a higher position than gold, offering better traits:
“Why people find gold valuable? It’s scarce, portable, divisible. Bitcoin is better than scarce, it’s fixed. You can divide it into a hundred million pieces. It should be worth much more than gold and for that to happen BTC has to be worth $5.”
Let's keep in mind that Winklevoss mentioned Bitcoin as a better store of value being a gold disrupter. But what happens if BTC is a currency disrupter too?
“If you can also use Bitcoin as a currency, the value actually goes much higher… If I say $500k per Bitcoin it’s actually a conservative case. It could easily be a couple of times more. And by the time it goes there….you never sell your BTC.”
Ethereum is considered to relate to Digital Oil, same as Bitcoin to Gold. If you want to enter the crypto game, Tyler Winklevoss suggests “own some Bitcoin – digital gold – and there is Ether – digital oil. And with those you have, most of your basis covered.”
In fact, Ethereum is a decentralized operating system where developers can create their own applications based on the ready fundament, same as you can build a company on top of Facebook. The computing services like Ethereum are actually decentralized Amazon. The beauty of crypto is that no regulators can really ban or control your apps.
Most chances Ether is the next digital currency to become digital gold. In case ETH succeeds to become the global base layer for all decentralized applications, the market cap of ETH surge to $9 trillion, the expected price will be 700x112 = more than $75k.