At some point people will wake up and realize that bitcoin is the best safe haven asset the world has ever seen. Until then, opportunity abounds.
Cryptocurrency
Bitcoin is a Safe Haven Asset: Tyler Winklevoss
As reported by CryptoNewsZ, “Recently, the rise in Bitcoins’ prices amidst nervousness in the market owing to the Coronavirus pandemic and the U.S. – Iranian tensions has renewed the debate regarding Bitcoin’s status as a safe-haven asset like gold. The most recent crypto leader to add to the debate was Tyler Winklevoss, co-founder of cryptocurrency […]
By Chris Sykora · February 27, 2020
As reported by CryptoNewsZ, “Recently, the rise in Bitcoins’ prices amidst nervousness in the market owing to the Coronavirus pandemic and the U.S. – Iranian tensions has renewed the debate regarding Bitcoin’s status as a safe-haven asset like gold.
The most recent crypto leader to add to the debate was Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini along with his twin brother Cameron Winklevoss. Earlier today, the tech mogul of Facebook founding fame took to twitter to add his opinion to the debate:
Tyler Winklevoss
✔@tylerwinklevoss
“Safe-haven assets can be defined as those whose prices rise when the stock markets fall due to increased risks. When faced with market agitation, investors tend to withdraw money from risky ventures and invest in ‘safe’ assets (like gold) for a more reliable store of value…
“…The Winklevoss twins have long maintained that they see Bitcoin as a safe value asset or digital gold. Last year, Tyler Winklevoss tweeted:
Tyler Winklevoss
✔@tylerwinklevoss
Bitcoin is gold 2.0. It matches or beats gold across the board. It’s market cap is ~140bil, gold’s market cap is ~7tril. Do the math!
“Both twins have frequently encouraged investors to buy bitcoin and the traditional financial industry to start building up Bitcoin reserves…”