Bears finally took over the cryptomarket and pulled the price for BTC down.
Cameron Winklevoss: bitcoin will jump 40 times in value
Sooner or later bitcoin’s value will leap up to 40 times. That’s what Cameron Winklevoss, one of the legendary twins ascertained on Wednesday,
CoinDesk states that bitcoin’s capitalization currently accounts for about $135 billion. Cameron made this intriguing statement having compared this popular crypto asset with gold at the MENA Summit held by the Milken Institute.
Winklevoss told that folks are used to taking for granted that bitcoin is totally disruptive for gold. Of course, crypto enthusiasts are assured that it’s much better that such an old-school asset as gold. However, gold owes its long-lasting status to scarcity. In this regard, bitcoin is fungible, portable and as a result more robust as an asset. So, to some extent we can say that bitcoin happens to be a modified gold of a digital nature, Winklevoss revealed to CNBC.
Previously, in 2008 the twins participated in a dispute with Facebook father Mark Zuckerberg. They clashed over the assumption that Mark dared to thieve their concept of the social network. Today the brothers jumped with both feet into the tempting world of crypto assets and even managed to become the first bitcoin nouveau riches.
In terms of value the cryptocurrency has undergone a crazy ride for the last few days. For this short period of time many reputable personalities gave out bitter words of criticism as for bitcoin, labeling it as ‘fraud,’ as Jamie Dimon from JP Morgan did, for example. Warren Buffett also didn’t see a good ending for the crypto asset, while Goldman Sachs doesn’t doubt that it’s going hit the bottom in the nearest future.
The other twin illustrated a world, where driverless vehicles might pay other vehicles, or many gadgets will be capable of conducting micro-payments. That’s the case where crypto assets could be extremely useful.
On Tuesday, Bitcoin managed to rally more than 10% testing $8,000 in Asia, while other key crypto assets also demonstrated substantial profits against the backdrop of bullish sentiment…
On Friday, versus all odds, Bitcoin proceeded with its surge in Asia and the cryptocurrency market generally stayed in the red…
What's moving markets on Friday? Read in the fresh report!
Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
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