Gemini Founders Predict Bitcoin Price in 10 Years

The founders of the American crypto exchange Gemini, Cameron and Tyler Winklevoss, suggested that the rate of the first cryptocurrency could easily grow tenfold.

On CNBC's Squawk Box, the twin brothers called Bitcoin the modern version of gold. Tyler Winklevoss suggested that if Bitcoin surpasses gold as a store of value, the first cryptocurrency could rise to $1 million.

The Gemini CEO noted that Bitcoin, like the entire crypto market, has grown significantly over the past ten years. When Gemini launched in October 2015, Bitcoin was trading at $380, the businessman recalled. He believes that despite Bitcoin now trading at $115,000, which is about 30,000% more than ten years ago, the crypto market is still in its early stages. Ten years from now, people will look back and consider today's Bitcoin price relatively small for entering the crypto market.

When asked by host Joe Kernen about the long-term sustainability of Bitcoin, especially given the halvings that cut the reward for miners in half, Cameron Winklevoss said that mining revenues will continue to grow along with the price of BTC. This is despite the fact that two more halvings are scheduled to take place in the next decade. Cameron disagreed with the idea that Bitcoin should become a currency for making everyday payments. Instead, he believes that Bitcoin should be used as a store of value.

The Winklevoss brothers are not the only ones who believe that Bitcoin will reach $1 million. Recently, the CEO of crypto exchange Coinbase, Brian Armstrong, suggested that Bitcoin will reach this mark by 2030, thanks to the clarification of cryptocurrency regulations in the United States and the creation of a national crypto reserve in the country.

Source: cryptonews.net