Host: Kinsey Grant
Guests: Cameron & Tyler Winklevoss, Entrepreneurs & Investors
Category: Biz & Tech | 📈 Investing
Podcast’s Essential Bites:
[4:04] CW: “We wrote a thought piece in August [2020], saying that we think the price of Bitcoin will be […] 500,000 per coin within the next decade. So we think actually at $30,000 it’s still undervalued. And we think Bitcoin overtakes gold within this decade. […] We actually think it’s currently a bargain at $30,000.”
[4:49] TW: “It really is about This is the next gold. If you look at the qualities that make gold gold - Bitcoin has those qualities or does better. So, gold is scarce - the supply of Bitcoin is actually fixed. Gold is fairly portable - but you can send a Bitcoin around like an email. Gold is sort of durable - but Bitcoin is actually very durable, because it’s digital and it’s maths. So, that’s why we call Bitcoin, Gold 2.0. We think it will disrupt gold and the market cap of gold is $9 trillion right now. I don’t know what Bitcoin’s is, but for Bitcoin’s to be $9 trillion, each Bitcoin would have to be worth $500,000 a Bitcoin.”
[5:43] CW: “And why this is really important right now, is because of the money printing that’s been going on, really over the past decade, but that has really gone into overdrive with the Covid 19 pandemic. And I think something like the supply has increased […] 23.5% in the past year alone, which is astounding. And the classic inflation hedge historically, has been gold. […] But now we have this digital version of gold, that’s actually better and a lot of big investors are putting on the Bitcoin trade.”
[8:53] CW: “Bitcoin is inevitable, but Covid has definitely accelerated a lot of things.”
[16:08] CW: “There is always the chance that there’s […] aggressive government regulation. I think that’s very unlikely in the US. […] Bitcoin was declared a commodity on the federal level in the US, so the […] regulatory classification of Bitcoin is actually pretty well understood in the US and it’s been […] established for years now. […] You’d have to really shut down the entire Internet to stop it. And I think most Western progressive governments understand that it’s much smarter to […] work with and regulate this thing than try and stop it. Because it’s not really realistic.”
[17:54] CW: “We’re very excited about the acquisition [of Blockrize, a crypto rewards program]. Most people understand credit cards. They also understand rewards programs, like earning airline miles. And our twist is that you can earn crypto into your Gemini account, as you’re spending your dollars and going about everyday purchases. And we think that it could be a really big mainstream moment for getting […] average people into crypto, because it’ll help demystify it. Because a lot of people they believe in it or they want to get into it, but they are not sure where to start and how to time their purchases and it can be a little scary for someone who isn’t […] experienced in trading stocks or whatever.”
[24:18] CW: “There is always a risk that Bitcoin doesn’t appreciate and I think that obviously it’s gotta be Buy and Beware. But I think […] the bigger risk is really not being part of this new future. And a lot of people […] sat on the sidelines, because they are not sure if there is […] a safe way or an easy way to get into crypto and that’s why we built Gemini.”
Rating: 🍎🍎🍎🍎
🎙️ Full Episode: Apple | Spotify
🕰️ 41 min | 🗓️ 01/18/2021
✅ Time saved: 39 min
Disclosure: This material is provided solely for informational purposes and is not providing any financial advice or recommendation.
