Tyler Winklevoss, the co-founder of US-based cryptocurrency exchange Gemini, believes that Bitcoin (BTC) is a store of value and that the cryptocurrency is the gold 2.0.
On Twitter, Tyler Winklevoss, a well-known figure in the cryptocurrency space, shared his opinion on Bitcoin in relation to gold. According to Tyler, Bitcoin is a store of value that has better features than Gold.
Bitcoin is gold 2.0. It matches or beats gold across the board. It’s market cap is ~140bil, gold’s market cap is ~7tril. Do the math!
— Tyler Winklevoss (@tylerwinklevoss) May 16, 2019
This has not been the first time that one of Winklevoss twins talked positively about Bitcoin while comparing it to gold. On March 15, 2019, Tyler’s brother, Cameron Winklevoss, said during the SXSW 2019 conference:
“The only thing that’s truly precious, in my mind, is bitcoin. If you tell that to someone who’s my parents’ age, they’ll probably look at me and tell me I’m crazy, and I’m willing to accept that. But you talk to someone who’s playing Fortnite and say, okay, two options, bar of gold or the equivalent in bitcoin, they are 10 times out of 10, 100 times out of 100, going to take the bitcoin. They want software, they don’t want hardware.”
Other prominent cryptocurrency investors have also stated that Bitcoin is digital gold. People like Mike Novogratz, Thomas Lee, and Barry Silbert all say the same. Last February, Barry Silbert even said:
“…whatever money is in gold is not going to stay in gold. That gets handed down to millennials — I’m highly confident a lot of that will go into bitcoin.”
It is believed that younger investors are not going to hold gold in the same hallowed view as their parents. Silbert thinks that of the proportion of this which is in gold, much may be converted into bitcoin eventually, since it is more suited for the new generations.