During an Ask Me Anything session on Reddit Cameron Winklevoss said that “Bitcoin (BTC) is most likely the winner in the long term” on January 7.
Replying on a question about BTCs future, Cameron wrote expressing his positive views, “Bitcoin is certainly the OG crypto!” asserting, the difficulty required to surpass the “network effect” he added, “so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”
In the AMA, the Winklevoss duo also expressed their commitment towards making “ETF [exchange-traded fund] a reality!”
Tyler Winklevoss compared Bitcoin to gold and said “Bitcoin is better at being gold than gold” and he also believes that it’ll “surpass the ~7trillion [sic] dollar market cap of gold.”
Further, as a response to the relative importance of blockchain and cryptocurrencies, he states that both are interdependent and imagining crypto without blockchain is like “calling AOL the internet.”
Answering to question on the long-term potential of fiat and crypto exchange, Cameron highlighted that concurrently “fiat onramps are crucial crypto” although he can imagine future where both are a form of crypto, asserting their USD-backed stablecoin, the Gemini dollar (GUSD).
With the approval of the New York Department of Financial Services (NYDFS), GUSD was launched last September. Reportedly it’s backed by the U.S. Dollar.
The twins application for Bitcoin ETF was rejected for the second time last July, by the U.S. Securities and Exchange Commission (SEC), citing their concerns that a large portion of BTC trading occurs through unregulated exchanges situated outside of the U.S. in addition to doubt over the poor quality.