Bitcoin To Beat Gold’s $7 Trillion Market Capitalization? Here’s What The Winklevoss Twins Think


The Winklevoss twins have always been contributors to the cryptocurrency industry. They’ve always been happy to give their predictions about the cryptocurrency community. From time, Tyler and Cameron, the owners of the regulatory-centric cryptocurrency exchange, Gemini, have always been bullish about Bitcoin. This weekend, during the ask-me-anything segment on Reddit, Cameron Winklevoss said that he expects Bitcoin to surpass gold in market capitalization. Keep in mind that gold currently has a $7 trillion capitalization while Bitcoin is struggling to stay above $60 billion. In his words:


“We are still bullish about Bitcoin. We know Bitcoin is better than gold. If our theory is right, in time, Bitcoin’s market capitalization will surpass gold’s $7 trillion.”


Bitcoin (BTC) Future Prediction


Saying Bitcoin will surpass gold is the height of any bullish sentiment towards the world’s foremost cryptocurrency. The question, however, is, how expensive will a single Bitcoin be when its market capitalization is over $7 trillion? Well, one Bitcoin would cost about $333,333 as soon as the market circulation hits 21 million. Now that’s a lot of money for a single Bitcoin. Keep in mind that BTC is currently ranging between $3000 and $4200 with no breakout or breakdown in view. So, it’s a long way up to $333,333.


Bitcoin (BTC) Price Today – BTC / USD
Name Price24H (%)
Bitcoin (BTC)
$9,362.00
2.97%


The Winklevoss twins aren’t the only ones who are bullish about Bitcoin. Nick Szabo, a cryptographer and a computer scientist agrees with the twins. In his words:
“Bitcoin is better than gold for many reasons. In many situations a government doesn’t trust another government’s central bank to keep their funds. In these kind of situations, Swiss banks are used to hold bulk funds. Unfortunately, Swiss banks aren’t trustworthy because they are subject to political pressures. This is why cryptocurrencies are the most trustworthy options. Another reason why cryptocurrencies are better than gold is that they are not subject to physical vulnerabilities like gold. In the past when the Nazis conquered some European countries, the first places they stormed were the gold reserves of banks.”


What Else Is Happening In The Cryptocurrency Industry


On another end of the continuum, Ripple is making headlines. Recently, Coin.ph, an xRapid partner of Ripple, sold out for $72 million to Go-Jek. Go-Jek, a Philippine-based exchange has about 5 million users and is planning to use Ripple’s xRapid to enable cross-border payments between the United States and Philippines.


Still on Ripple case, the creator of Tip Bot has decided to increase security on the platform. The update will offer users an additional layer of protection against hackers. Twitter users were excited about the update.


Lobstr, a Stellar based wallet announced that it would be working on an update that will make the transfer of XLM tokens easy users will be able to make transfers using no more than their email addresses. This feature will allow them to send XLM not Just to fellow account holders but to email addresses that are yet to be attached to an account.


What do you think? Does Bitcoin have what it takes to surpass gold’s market capitalization? If your answer is yes, how long do you think it would take for this to happen and what impact will it have on the industry as a whole?

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