It’s the start of a new decade, and industry famous twin Tyler Winklevoss, the co-founder, and CEO of cryptocurrency exchange and custodian company Gemini Trust, has shared his views on what the next ten years hold for crypto.
According to Winklevoss, crypto is already becoming more than a niche technology and a form of money, and it will play an essential role in our daily life in the foreseeable future.
“Today, crypto is still a niche technology and a form of money. It is not crucial to your everyday life the way email and other web applications are, but our thesis is that this will change — it’s already changing if you look close enough,” Winklevoss wrote.
Winklevoss added that the decentralized nature of cryptocurrencies, which empowers individuals, will be the driving force within the new decade. Crypto will not only redesign the internet but will also redesign the financial and monetary systems to protect the rights and dignity of users, he said.
The Winklevoss-twin brother doesn’t see cryptocurrency failing because the invention is too fair to ignore, and the gravitational pull is too strong to deny. Tyler said that people would choose crypto because of the amount of freedom it offers; everyone wants more freedom.
“Crypto will make as great of a contribution to your personal freedom as the invention of the printing press, the personal computer, and the early Internet,” he added.
Crypto in the last decade
The last decade was a tremendous one for Bitcoin in terms of market returns, considering that the asset is only ten years old. In fact, Bitcoin was tagged as the best performing asset of the last decade (2009 – 2019).
Anyone who invested $1 in Bitcoin in 2010 would be around $90,000 richer today, which is a massive 8,900,000% growth within the past ten years.
Even if you had invested the same $1 in any of the 500 companies in the S&P index, the highest returns you would get today is around $4,181, and that investment would be on Netflix, but still nowhere close to Bitcoin’s ROI.