Tyler Winklevoss, photo by Techrunch
Despite the recent days of despair in the crypto community because of Bitcoin’s massive plunge, Tyler Winklevoss stays optimistic. The Winklevoss twin believes that Bitcoin’s significance will outperform the current negative sentiment, and it will “emerge stronger than ever.”
The coronavirus hit the cryptocurrency market, and in less than a month, the Bitcoin price dropped from over $10,000 to $3,600 on some exchanges. Even though BTC has recovered slightly and hovers above the critical $5,000 mark now, most of the crypto Twitter experts still predict a bearish future.
Tyler Winklevoss, co-founder, and CEO of Gemini, however, has a different outtake on the matter. He outlined that Bitcoin has already overcome lots of adversities, and it’s too early to outcast it.
“Bitcoin was born in 2008, during the winter of our financial discontent. It has already weathered much to be here, and it seems unlikely to give up anytime soon. It will emerge from this current calamity stronger than ever. Decades are not measured in days.” – Tyler Winklevoss Tweeted.
As he pointed out, the Bitcoin idea was invented following the recent global financial crisis of 2008. In the years after, most financial markets were blooming, but BTC outperformed them all. As the new crisis might be just around the corner, it would be interesting to follow its development and to answer the question – is Bitcoin real safe-haven or not.
The Winklevoss twins, Tyler and Cameron, are among the most famous early adopters of Bitcoin. Their Bitcoin holdings were equivalent to $1.3 billion when Bitcoin reached its all-time high in December 2017.
They made headlines in 2014 when they paid 312.5 BTC for space tickets from Sir Richard Branson’s Virgin Galactic. Later on, as the price of the first-ever crypto kept increasing, those became arguably the most expensive tickets, and Tyler regretted spending the bitcoins for them.
With today’s mass panic in the cryptocurrency market, expressing bullishness seems rather unlikely. Yet, only yesterday, Edward Snowden showed his support for the primary digital asset.
The famous whistleblower said that there’s no real reason behind the latest price plunge. Therefore, for the first time in a while, he was contemplating purchasing more bitcoins.
Snowden, who is known for leaking proof that the NSA is illegally spying on people, has previously outlined Bitcoin’s decentralized and permission-less nature as the main benefits of the network.