Despite its recent price crash, many staunch bitcoin advocates still believe in its potential. Brothers Tyler and Cameron Winklevoss are one of those bitcoiners seeing the asset soar to new heights.
For the Winklevoss, bitcoin will hit $500,000
Recently, bitcoin price crashed to $25,000. Since then, the asset has risen slightly to reach a valuation of $26,000. It is not certain that this trend will be maintained over time given the market circumstances.
Never mind, the flagship crypto is considered to have enough robustness to reach a new level. This is particularly the opinion expressed by the Winklevoss brothers during an interview they gave to The National News.
The twins are convinced that the unique characteristic traits of crypto will participate significantly in this dynamic. The asset would hold, according to them, the relevance necessary to compete and even exceed, the valuation of gold.
Because of this, Tyler and Cameron Winklevoss estimate that bitcoin is in pole position to be worth $500,000. A peak that the asset can reach if it manages to confirm its effectiveness vis-à-vis gold. Incidentally, JP Morgan bank is looking at a bitcoin price of $45,000 thanks to gold.
When you know the particularly tense circumstances of the crypto market, these projections may seem far-fetched. However, several players in the crypto industry firmly believe that bitcoin will achieve an unprecedented bull run.
For example, investor Cathie Wood reaffirmed, a few days ago, projections that she had made last year. According to them, bitcoin would be worth $500,000 by 2026. A valuation that should reach one million dollars by the end of the decade.
Likewise, Arthur Hayes, the co-founder and former CEO of BitMex, made similar predictions. The expert believes that with a collapse of the global banking system, the crypto queen will be worth $1 million.
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