Tyler and Cameron Winklevoss, co-founders of Gemini, shared an ambitious vision for Bitcoin at the Bitcoin Amsterdam conference, reaffirming their belief in its long-term potential.
Tyler Winklevoss declared:
“Bitcoin is not even a tenth of what it will eventually be worth. The price will one day reach the $1 million mark. It is the greatest innovation of the past century and will perhaps form the foundation of the economy for the next 500 years.”
Bitcoin as a new reserve asset
The Winklevoss brothers have expanded their involvement beyond Gemini, supporting Treasury, a company that holds bitcoin reserves as its primary asset.
Treasury, now listed on the Amsterdam stock exchange, aims to model a future where companies hold bitcoin instead of traditional cash reserves.
This move highlights a growing trend of institutions considering bitcoin as a long-term store of value.
Market challenges and optimism
Despite the recent price dip below $100,000 and a revised lower end-of-year forecast from Galaxy, the brothers remain confident in bitcoin’s future.
They noted that while gold and silver have outperformed bitcoin in recent months, bitcoin’s fundamentals and adoption are only at the beginning stages.
Attendees cited volatility and large-scale selling by whales as recent hurdles, but optimism persists among long-term holders.
Central bank adoption and regulation
In a notable development, the Czech National Bank became the first central bank to invest in bitcoin, launching a test portfolio that includes bitcoin and tokenized assets.
The brothers also credited Trump-era US regulation for supporting bitcoin’s rise and pointed to Europe’s MICAR regulatory framework as a model for fostering bitcoin businesses.
Bitcoin’s future as reserve currency
The Winklevoss twins drew historical parallels, comparing bitcoin’s adoption phase to the early days of global trade and innovation.
They argued that bitcoin, with its scarcity and decentralization, is poised to surpass gold as the ultimate reserve asset.
Cameron Winklevoss summed up their outlook:
“We believe Bitcoin will become the world’s reserve currency.”
