The Winklevoss twins, a sparkling name in the crypto industry, have been upbeat on bitcoin irrespective of the risks associated with the coin. In a conversation with CNN Business on 22 August, the billionaire brothers brought to light their outlook on Bitcoin as an investment.
Bullish Billionaire Twins
Though cryptocurrency might seem precarious to an average investor, Tyler Winklevoss stated the contrary. He highlighted the step-ahead vision held by the coin and how we can own a piece of this remunerative internet currency.
Cameron added the similarity bitcoin possesses to gold and remarked that despite the immense volatility, Bitcoin is the future.
However, the most exciting aspect arose in the interview when the Internet entrepreneurs talked about Libra.
Is the infamous rivalry nearing an end?
The identical siblings unveiled their plans for joining the Libra Association, ignoring the feud with the social platform King, Mark Zuckerberg. In 2004, the brothers sued Zuckerberg over Facebook’s ownership, claiming that he stole their idea for the social networking site. Although their summon to control the company did not bear any merit, the Gemini twins were awarded a settlement of $65 million in 2008. As reported, the outcome of this strife was that they invested $11 million in bitcoin at $120 a coin and grew to be the bitcoin masters.
Besides suing their junior, Mark Zuckerberg, they even filed a case against an early bitcoin investor. In 2018, the cryptocurrency entrepreneurs cited a lawsuit against Charlie Shrem for stealing 5,000 bitcoins worth $32 million. As per reports, Shrem helped the brothers invest in BTC in 2012.
“We see a Crypto Earth!”
Following the interview, the capitalists commented on the inevitable arrival of the day when crypto would become a household name and a single second in the world won’t measure without a crypto coin. Libra is synonymous with the most significant chance of crypto for global introduction and adoption. Although the venture capitalists mentioned their collab with facebook’s currency, they were certified to attain pedantic knowledge of the project before committing to the decision. The twins will firmly refuse if Libra favors heavy centralization in any form.
Regulations regulate the twins’ investment.
Though the twins keep faith in crypto being the future, they connect with the regulations with the same willingness. Facebook’s Libra hasn’t yet come into execution but stands in the regulatory circle. Tyler argued that though bitcoin may hold a history of being used for scams, the people behind them are seized. Also, “smart criminals” tend to avoid its use due to the transparency and traceability attached to the crypto coin.
Apprehensions? They don’t stop the Winkleviis!
At present, Libra is under the flame. From the European Union to the US Senate, every authority is entering to investigate the exciting launch of this virtual currency. Moreover, Libra's progress is currently ceased until the executives examine its system.
Also, according to a report by Financial Times, three of the investors have considered withdrawing their support from the Libra association.
Quite paradoxical, but where Mark’s already star-studded partners are apprehensive about the launch of facebook’s digital coin, his historical foes have their arms outstretched to join the association!
Thus far, the Libra Association has not responded to the inquiry about a potential collaboration.
The Winkling Heroes
The Winklevoss Twins are reflection images of each other. Tall and powerful, the siblings became the most prominent names in the crypto world and the mainstream media. Both halves of the billionaire duo became the plot of a book named “The Accidental Billionaire” by Ben Mezrich, which David Fincher later filmed. The “Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption” is the latest release by Ben that scout the origin of Facebook from the brothers’ view along with the making of their billions in the crypto world.
The Winklevoss’ are very sincere bitcoin believers. To ensure the flight of Bitcoin to the mainstream, the twins established Gemini Trust LLC in 2014. Gemini is a cryptocurrency exchange platform regulated by the New York State Department of Financial Services (NYDFS).
In 2016, it became the first licensed ether exchange. The platform is a successful bridge between the old and new money with security. The victorious players of the digital world added several partnerships and products to Gemini’s portfolio. Today, the crypto trade site attains digital asset insurance covering the tokens and coins held on the platform.
We’ll sustain with our “stable” coin!
The name Winklevoss positively oozes blue-blood money and made headlines with the announcement of the launch of a dollar-backed stablecoin built on ethereum. The Gemini dollar is designed to initiate liquidity for users wishing to send or receive the US Dollar via the ethereum network. However, the stablecoins brought controversy when some accounts were abruptly closed without explaining their redemption.
Winklevoss – the crypto psychics
Also, in a recent interview, the precious twins predicted that each of the big four of the internet – Facebook, Amazon, Netflix, and Google would come forth with their cryptocurrency projects within the next two years.
Gemini in Down Under
Gemini has now announced its transparency and perceptibility in Australia. The crypto exchange will now be accessible to Australian users, allowing them to buy and sell five digital coins, including bitcoin, zcash, litecoin, ethereum, and bitcoin cash. Besides, the billionaires are making mobile applications convenient for IOS and android users.
Will the open gesture of the Winklevoss end their rivalry with Facebook? Will the partnership ascend Libra’s launch? If it does, will it be a skyrocket for Gemini too?