The Winklevoss twins founded the Gemini cryptocurrency exchange that is licensed and regulated by the New York State Department of Financial Services. They were early adopters of the notion that bitcoin and other forms of cryptocurrencies could be legitimate stores of wealth in the global economy.
Tyler Winklevoss, CEO and co-founder of Gemini, and Cameron Winklevoss, president and co-founder of Gemini, join Real Vision CEO Raoul Pal to discuss how they first discovered Bitcoin, their exploration into other crypto assets, and market psychology.
They explain the importance of network effects for Bitcoin, noting that it is a type of social network. The Winklevoss brothers share their grand vision for Gemini and how they plan to shepherd the next wave of adopters away from legacy finance and fully into crypto. Filmed on December 7, 2020. Key Learnings: The crypto asset class is very small and, because of this, institutional investors have been unable to get exposure to it.
Bitcoin Billionaires Winklevoss Twins Predictions
Bitcoin is a very young asset with enormous upside potential. Many people are just starting to get their feet wet in crypto, and the Winklevoss brothers believe that eventually people will leave the legacy financial systems fully for crypto infrastructure with Gemini helping to facilitate this migration.
Tyler and Cameron Winklevoss, whose fortunes have been on a roller coaster since they jostled with fellow student Mark Zuckerberg at Harvard University more than a decade ago, are once again billionaires thanks to a surge in the price of Bitcoin.
The twins bought $11 million worth of Bitcoins in 2013, according to the New York Times, and soon became evangelists, creating crypto exchange Gemini Trust Co. The 39-year-old brothers, who gained widespread fame following the release of the 2010 movie “The Social Network,” briefly became billionaires in 2017 when Bitcoin soared to a record before the volatile currency plummeted.