Tuesday, November 12, 2013

The Winklevosses: Bitcoin Worth 100 Times More

Cameron and Tyler Winklevoss—big investors in Bitcoin—said this morning that bitcoin should be worth 100 times more than it's valued today.

"The bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now," Tyler Winklevoss said in an interview at the Dealbook conference that aired on CNBC's "Squawk Box."

One of the twins went on to say that investors could buy bitcoins through the Mt Gox  Bitcoin exchange.  These guys are clueless. The government has frozen Mt Gox US assets and Americans are having trouble withdrawing their funds from Mt Gox. It is totally idiotic to suggest that investors use Mt Gox to buy bitcoins.

As each day passes, it is easier and easier to see how Mark Zuckberg fleece these two.


  1. Yeah, they look pretty stupid now that their $11,000,000 in bitcoins are now worth over $40,000,000 in about 7 months.

    1. At $1000/day limit Mt. Gox has, it's only going to take them 112 years to withdraw their money.

      Maybe a one time big gold order at Coinabul instead?

    2. No need to "withdraw". Bitcoin is money in and of itself. They can simply spend it if they wish.

  2. Bull case is 400 billion? Why not 400 trillion? Stick to gold, not bitcoins.