Cameron Winklevoss, a billionaire and co-founder of Gemini cryptocurrency exchange, believes that, currently, not buying bitcoins is even worse than not investing in Amazon and Apple in the early 2000s.
The famous billionaire Cameron Winklevoss tweeted that not wanting to buy bitcoins today would be an even bigger mistake than not investing in Amazon, Apple, Microsoft, or Google 20 years ago.
“Not owning Bitcoin today will be a worse investment decision than not investing in $APPL, $GOOG, $AMZN, and $MSFT in the early 2000's.”
In the early 2000s, the dot-com market crashed. Many large companies have suffered multi-billion dollar losses. Microsoft shares fell more than 50%, slipping from $56 at the peak of the bubble to $20 a year later. But later, digital companies began to grow rapidly again. Now shares of the same Microsoft are trading at $205. Amazon shares rose from $10 in 2002 to $3164.
Thus, Cameron Winklevoss says that even having bought such an asset as bitcoin at a local peak, which may collapse in price after a few months, an investor will only benefit in the long term, as bitcoin will grow.
According to the billionaire, bitcoin will continue to grow. Its growth is supported by both the attractiveness of bitcoin itself in the eyes of investors, as well as the explosive growth of decentralized finance (DeFi) fueled by Ethereum.
Cameron and his twin brother Tyler are well-known entrepreneurs and crypto investors. They founded the management company Winklevoss Capital Management and the Gemini crypto exchange. They are also famous for accusing Mark Zuckerberg in 2004 of stealing their idea for a social network for Harvard University students called ConnectU.