Winklevoss Twins Discuss Bitcoin Industry Plans

By May 7, 2015Bitcoin Business
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Winklevoss Twins Discuss Bitcoin Industry Plans

During the recent NY TechCrunch Disrupt, an event allowing startups to pitch their ideas to a wider audience, the famous Winklevoss twins shared their initiatives and plans for the bitcoin industry. Recall that these Harvard graduates have been investing their efforts and funds in the cryptocurrency arena for quite some time, as they believe that bitcoin will be the next big technology.

Cameron and Tyler Winklevoss have already launched an exchange-traded fund (ETF) that would allow traders to invest in bitcoin using the ticker COIN under the NASDAQ OMX. They are also working on building a fully-regulated bitcoin exchange called Gemini.

Winklevoss Twins’ Bitcoin Industry Plans

When it comes to their newly launched bitcoin industry exchange, Tyler disclosed that the popular dilemma is that these either too difficult or are not secure enough. On the one hand, buying and storing bitcoins on your own to store in an online wallet could be burdensome. On the other hand, cryptocurrency startups that don’t invest much in security features could also face the trouble of gaining regulatory approval.

“Bitcoin was this really strange technology that only geeks — and even not a lot of geeks, it was geeks within geeks,” Tyler Winklevoss explained. “We really wanted to make sure we built this right. And then, you have to build a great product. Most of the startups deal with that last piece first.”

The Winklevoss twins emphasized that they are heavily-invested in the bitcoin industry for the long-term and that it is not just some whim that they decided to test out. “We’ve put our money where our mouth is. We don’t just have our skin in the game, we have our whole body in the game,” Cameron Winklevoss said.

Cameron and Tyler Winklevoss have already launched an exchange -traded fund (ETF) […]

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