{"id":30638,"date":"2017-12-10T09:53:30","date_gmt":"2017-12-10T09:53:30","guid":{"rendered":"http:\/\/www.bnreport.com\/bitcoins-blazing-gains-just-a-start-it-will-rise-as-much-as-20-fold-billionaire-winklevoss\/"},"modified":"2017-12-10T09:53:31","modified_gmt":"2017-12-10T09:53:31","slug":"bitcoins-blazing-gains-just-a-start-it-will-rise-as-much-as-20-fold-billionaire-winklevoss","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoins-blazing-gains-just-a-start-it-will-rise-as-much-as-20-fold-billionaire-winklevoss\/","title":{"rendered":"Bitcoin’s blazing gains just a start, it will rise as much as 20-fold: Billionaire Winklevoss"},"content":{"rendered":"

By Olga Kharif<\/strong><\/p>\n

Cameron Winklevoss, thought to be one of the largest holders of bitcoin<\/a>, thinks the cryptocurrency\u2019s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold<\/a>. <\/p>\n

Wall Street\u2019s plan to launch futures contracts on Sunday, making it easier to bet against the digital currency\u2019s rally in recent months, is making some enthusiasts nervous \u2014 but not Winklevoss. He\u2019s one of the famed 36-year-old twins who played an early role in Facebook<\/a> Inc.\u2019s formation, then dedicated part of their fortune to the cryptocurrency and have since tried to win approval for a bitcoin trading vehicle. <\/p>\n

Winklevoss bases his price projection on the market<\/a> value of gold, which he pegged at about $6 trillion and others calculate at closer to $7.5 trillion. Investors are beginning to embrace the idea that bitcoin, \u201cmined\u201d by computers performing complex calculations, is more portable and divisible than the precious metal, he said. <\/p>\n

\u201cWe think that bitcoin is a gold disruptor,\u201d Winklevoss said in a telephone interview on Friday, predicting it may yet appreciate by 10 to 20 times its current value. \u201cWe think it\u2019s just the beginning. We are definitely holders.\u201d <\/p>\n

Winklevoss can point to a strong track record as a bitcoin investor. He and his brother Tyler said in 2013 that they owned almost $11 million worth of bitcoins. If they retained that stake it would be valued at more than $1.7 billion today, according to the Bloomberg Billionaires Index. The ranking calculates they each have a $1 billion fortune as of Friday after taking into account other assets. Cameron Winklevoss declined to comment on his current bitcoin holdings or his net worth. <\/p>\n

While enthusiasts have long argued bitcoin\u2019s merits as a payment system, public sentiment has warmed this year, eventually turning into a frenzy. As people around the world snapped up coins, prices surged, briefly surpassing $16,000 this week before settling above $15,600 on Friday. More than 100 hedge funds have popped up to bet on its swings. The new futures contracts may facilitate those wagers, while also pushing the crytpocurrency further into the realm of mainstream finance. <\/p>\n

The Winklevosses\u2019 Gemini<\/a> exchange is preparing to support the launch of Cboe Global Markets<\/a> Inc.\u2019s bitcoin futures on Sunday. Their platform has its own data center running its own hardware and infrastructure, Cameron Winklevoss said. <\/p>\n

\u201cWe think we are in a good spot and ready for game time,\u201d he said. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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The post Bitcoin's blazing gains just a start, it will rise as much as 20-fold: Billionaire Winklevoss<\/a> appeared first on News Wire Now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Olga Kharif<\/p>\n

Cameron Winklevoss, thought to be one of the..<\/p>\n","protected":false},"author":1,"featured_media":30639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-30638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nBitcoin's blazing gains just a start, it will rise as much as 20-fold: Billionaire Winklevoss - Business News Report<\/title>\n<meta name=\"description\" content=\"By Olga Kharif Cameron Winklevoss, thought to be one of the..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/bitcoins-blazing-gains-just-a-start-it-will-rise-as-much-as-20-fold-billionaire-winklevoss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin's blazing gains just a start, it will rise as much as 20-fold: Billionaire Winklevoss - 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