According to Cameron and Tyler Winklevoss, the co-founders of the cryptocurrency exchange Gemini, Bitcoin has the potential to increase tenfold from its current value.
In a recent discussion on CNBC’s Squawk Box, these twin entrepreneurs expressed their belief that this leading cryptocurrency could reach a staggering $1 million. They emphasized their long-standing perspective that Bitcoin serves as a contemporary equivalent of gold.
During his conversation with host Andrew Sorkin, Tyler Winklevoss reflected on the advancements made over the last decade. He pointed out that when Gemini was established in October 2015, Bitcoin was valued at approximately $380. Despite significant growth since then, he argued that the market is still in its infancy.
Tyler also highlighted Gemini’s recent collaboration with Nasdaq regarding The SEC’s Project Crypto, an initiative aimed at integrating traditional markets onto blockchain technology. He believes this marks just the beginning of extensive financial transformation.
When asked about what sets Gemini apart from Coinbase, Cameron mentioned their credit card launched in May. This innovative product enables customers to earn crypto rewards of up to 4% instantly on every purchase; some merchants even offer rewards as high as 10%.
Cameron emphasized that if Bitcoin appreciates tenfold, these rewards could effectively turn everyday spending into free investments. Tyler added that this approach allows individuals to maintain their usual spending habits while also building long-term financial value.
Co-host Joe Kernen raised concerns about Bitcoin’s sustainability over time, particularly regarding halvings which decrease new coin supply.
Cameron responded by explaining that although there will be two more halvings within the next decade, mining revenues are expected to grow alongside price increases. He dismissed notions suggesting Bitcoin needs to function as a daily transactional currency; instead he views it primarily as a digital store of value, akin to gold.
A Growing Consensus Among Industry Leaders for $1M Bitcoin
The prediction made by the Winklevoss twins isn’t unprecedented; numerous influential figures and organizations have voiced similar expectations recently.
For example, Brian Armstrong—CEO of Coinbase—has indicated that Bitcoin might hit $1 million by 2030 due largely to regulatory clarity in America and increasing adoption rates for crypto exchange-traded funds along with possible government reserves holding Bitcoin as significant factors driving this growth.
Cathie Wood from ARK Invest has even more optimistic projections suggesting that if institutional adoption picks up speed significantly enough before decade’s end then we could see prices soar up towards $1.5 million per coin!
Additively notable personalities such as Robert Kiyosaki , Arthur Hayes , Eric Trump ,and Samson Mow have all placed ambitious price targets around one million dollars for bitcoin within various timelines mostly revolving around 2030 .