Winklevoss Twins on commitment to make Bitcoin ETF a reality, BTC in long-term & more
During a recent Ask Me Anything (AMA) on Reddit, The Winklevoss brothers said that they “are committed as ever to making an ETF [exchange-traded fund] a reality!” During the same AMA, Cameron Winklevoss stated, “Bitcoin [BTC] is most likely the winner in the long term.”
This came up while answering a question about whether Bitcoin will remain in its number one position among cryptocurrencies. Cameron shared his positive regarding the same by stating, “Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value).” According to Cameron, in the long term, BTC is most likely the winner.
Cameron’s twin brother Tyler during the discussion also stated that they believe that Bitcoin is better at being gold than gold. “If we’re right, then over time the market cap of Bitcoin will surpass the ~7trillion [sic] dollar market cap of gold,” he added.
While responding to another question on the importance of blockchain versus cryptocurrencies, Tyler stated it is not possible for one to exist without the other. “A blockchain without a crypto is like calling AOL the Internet,” he explained.
While discussing the long-term potential of fiat as well as crypto exchanges, Cameron wrote, “fiat onramps are crucial crypto.” However, he said that he “can see a future where everything (including fiat) is crypto.” It is to be noted that in July, the U.S. Securities and Exchange Commission (SEC) rejected the application for Bitcoin ETF by the Winklevoss for the second time. The first application was rejected in March 2017 by the SEC.
The Commission explained its decision by stating its concern. According to SEC, their concern is that a significant portion of Bitcoin trading happens on “unregulated exchanges outside the United States.”
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