Bitcoin has matured as an asset and it will eventually be disrupting gold, according to brothers Tyler and Cameron Winklevoss, who operate the Gemini cryptocurrency exchange. The brothers gave their views about digital currency’s future during an interview with Liz Claman on Fox Business Network’s “Countdown Closing Bell.”
Claman was reporting live from the Sky Bridge Alternatives (SALT) Conference in Las Vegas, a conference on macro-economic trends.
Claman introduced the brothers, whom she described as two of bitcoin’s biggest backers, displaying a line chart showing how bitcoin and the U.S. dollar have been trading in opposite directions, with bitcoin trading at a more stable rate. She introduced the brothers noting that their Gemini exchange has been trading for six months.
Claman also played a clip from an October interview with the brothers talking about how cryptocurrency will allow people to exchange currencies at airports without having to pay high exchange fees. Gemini Sets A New Course
The brothers explained that their Gemini exchange trades both bitcoin and Ether, the latter being the currency of the Ethereum network.
Gemini recently received the New York State Department of Financial Services’ approval to trade Ether in addition to bitcoin, CCN reported. The brothers hope their platform will become the “Nasdaq for bitcoin buying and selling.”
“People are definitely knocking on the door; the volume has gone up dramatically in the last few days” in the first three days of trading, Tyler said. Bitcoin Volatility Fades
Claman asked about bitcoin’s volatility, which Cameron said is a thing of the past that was due to regulatory uncertainty. But the advent of licensed exchanges like Gemini have brought a lot more certainty. He said bitcoin has been a lot less volatile recently than gold.“Bitcoin is acting like a mature asset,” Tyler noted, adding that there is a lot of […]
