The Winklevoss twins, Tyler and Cameron, who are the co-founders of the recently listed cryptocurrency exchange Gemini, have made bold predictions regarding Bitcoin’s future value. They anticipate that it could soar to $1 million per coin as it begins to “disrupt gold.”
During an appearance on CNBC last Friday, Tyler Winklevoss reflected on how far Bitcoin has come since they launched their crypto platform over ten years ago.
He recalled a previous discussion on CNBC back in 2015 when Bitcoin was valued at just $350. Today, its price has surged past $116,000.
“We believe there’s potential for a tenfold increase from here,” he stated. “It’s still quite early in this journey; I can envision us sitting here a decade from now reminiscing about how early we were.”
“We’re really just at the beginning stages because we foresee Bitcoin reaching $1 million if it successfully disrupts gold,” he continued. “In our view, Bitcoin represents Gold 2.0.”
The Winklevoss twins are perhaps best recognized for their involvement in Facebook’s inception and established Gemini in 2014 after becoming early investors in Bitcoin.
This past Friday marked Gemini’s initial public offering (IPO), with shares priced at $28 each. The stock began trading on the Nasdaq Global Select Market under the ticker symbol GEMI that afternoon and opened at $37.01—valuing the company around $4.4 billion; however, by this writing, shares have fallen to approximately $34.
The New York-based exchange enables users to buy and sell cryptocurrencies while also allowing them to speculate on future prices of various digital assets.
Cameron Winklevoss shared during Friday’s interview his belief that Bitcoin will function more as a store of value rather than as a medium for transactions—a viewpoint not universally accepted among other notable supporters like Jack Dorsey of Block and Twitter fame.
“We don’t think it needs to serve as a transactional currency—similar to how people don’t use gold for buying everyday items like coffee,” he explained.
The Winklevoss twins aren’t alone among cryptocurrency leaders making significant forecasts about Bitcoin’s price trajectory lately; Tom Lee from Fundstrat Global Advisors mentioned earlier this week that he expects Bitcoin could reach up to $200,000 by year-end.
Billionaire Arthur Hayes, co-founder of BitMex, has also asserted that aiming for a price target of $250,000 by 2025 is realistic for the leading cryptocurrency.
Currently trading around $116,507 per coin according to CoinGecko data—a rise of 2% within twenty-four hours—Bitcoin has seen an increase exceeding 5% over the last week but remains roughly 6% below its all-time high recorded in August at approximately $124,128.