Winklevoss Twins Predict $1 Million Bitcoin, as Gemini Exchange Debuts on Nasdaq
NEW YORK – May 23, 2024 – As Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, began trading publicly on the Nasdaq today, Cameron winklevoss doubled down on his bullish bitcoin forecast, predicting the cryptocurrency will eventually reach $1 million per coin. The prediction comes amidst a recent surge in Bitcoin’s price and growing institutional interest in digital assets.
The Winklevoss twins’ vision for Bitcoin diverges from some industry leaders, positioning it less as a daily transactional currency and more as a store of value-akin to gold. This perspective, coupled with Gemini’s public debut and a $4.4 billion valuation, underscores a pivotal moment for the cryptocurrency industry, signaling increasing mainstream acceptance and potential for further growth. Investors are closely watching Bitcoin’s trajectory as predictions for its future price continue to escalate.
“We don’t think it actually has to be a transactional currency-just like you’re not trying to buy a cup of coffee with gold,” Winklevoss stated in a recent interview.
Other prominent figures in the crypto space offer differing viewpoints. Jack Dorsey, co-founder of Block and Twitter, disagrees with the store-of-value assessment, advocating for Bitcoin’s potential as a payments system.
Beyond the Winklevoss twins, other analysts are forecasting significant gains for bitcoin. Fundstrat global Advisors Managing Partner Tom Lee recently predicted Bitcoin could reach $200,000 by the end of 2024, while BitMex co-founder Arthur Hayes has claimed a $250,000 target is realistic by 2025.
As of today, Bitcoin was trading at $116,507 per coin, according to CoinGecko, representing a 2% increase over the past 24 hours and a more than 5% rise over the last week. The cryptocurrency currently sits approximately 6% below its all-time high of $124,128,reached in August.