Tyler Winklevoss Predicts That Bitcoin Could Exceed The $7 Trillion Market Cap

The owners of the US crypto exchange Gemini, the Winklevoss twins, are adamant in their bullish views of Bitcoin’s future despite the current bearish climate.

Crypto guru Tyler Winklevoss, during an AMA session with Reddit, claimed that Bitcoin is well on its way to surpassing the $7 trillion market of gold.

He wrote:

“Our thesis around Bitcoin’s upside remains unchanged. We believe Bitcoin is better at being gold than gold. If we’re right, then over time the market cap of Bitcoin will surpass the ~$7 trillion market cap of gold.”

If Bitcoin’s market cap was to go beyond gold, it would mean 1 BTC would cost $333,333.

Say this were to happen, one BTC would be worth as much $333,333 once Bitcoins total supply of 21 million tokens is in circulation.

A famous cryptographer, known for his research in smart contracts by the name of Nick Szabo explained his vision which is on par with Winklevoss:

“There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds, for example. One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust minimised solution. The Swiss government itself is subject to political pressures, and so a trust-minimised solution is cryptocurrency.”

Szabo also said that there is another glaring issue with gold reserves and that’s the fact that they are physically vulnerable.

Could Mainstream BTC adoption finally be here?

2019 may have just begun, but we’ve already entered a phase where BTC and cryptocurrencies might be on the way to mainstream adoption.

Firstly, Bitcoin is on a path towards easy access in the form of ATM deposits and withdrawals in grocery stores across the USA, as well as easily accessible Bitcoin purchases from thousands of kiosks across France. Not only can we now purchase soft drinks and candy from vending machines, but people now have the option of purchasing Bitcoin from coin machines.

These machines can already be found the states of Texas, Washington and California where BTC is available via Coinstar kiosks.

Could the Winklevoss twins prediction indeed hold the merit he hopes for? Let us know your thoughts by commenting below.

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