Gemini founders compared Bitcoin to the great geographical discoveries
The founders of the American crypto exchange Gemini, Cameron and Tyler Winklevoss, expect Bitcoin to rise to $1 million and become the foundation for the development of the global economy for the next 500 years.
According to Tyler Winklevoss, Bitcoin's current price is less than a tenth of its future value. The brothers spoke at the Bitcoin Amsterdam conference shortly after Bitcoin's price dropped below $100,000. They hesitated to make a firm price forecast for the near future, but suggested that interest rate cuts by the US Federal Reserve could have a positive impact.
They compared the current stage of the crypto industry's development to the beginning of the great geographical discoveries—when the Dutch East India Company, which controlled the trade of Dutch merchants with the countries of the East, had not yet been created, and Christopher Columbus had not yet reached the shores of America.
“We still have to deal with hostile governments, even though Bitcoin is becoming easier to acquire. No one forced people to buy it; it all started with the White Paper. People were excited about decentralized money. If we had lived in the 19th century, we would have invested in railroads or steamships, and today, cryptocurrency is no less important a discovery. We believe Bitcoin will become the world's reserve currency,” the Winklevoss brothers stated.
Gemini founders praised US President Donald Trump for “opening the door for Bitcoin's development.” After returning to the presidency, Trump invited the Winklevosses to a crypto summit at the White House. Under a Joe Biden administration, Gemini representatives stated that they would prefer to jail the crypto entrepreneurs.
The brothers praised Europe for clarifying market regulation with the MiCA. In September, Gemini launched staking services and cryptocurrency derivatives trading in Europe.
Source: cryptonews.net
