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Bitcoin (BTC), Cryptocurrency, funds tradedThe Winklevoss twins, which emerged for the first time in popularity after their association with Mark Zuckerberg and the creation of Facebook, have become a series of established figures in the cryptocurrency industry.
Since the merger in the industry in 2013 with an investment in Charlie Shrem's BitInstant payment processor, the Winklevoss twins have been an important figure for Bitcoin and for the founders of the famous Gemini cryptocurern exchange. After the bull race of 2017 for Bitcoin and altcoin, it was revealed that the twins' gamble on Crypto was repaid, with their net worth overcoming $ 1 billion in a wealth story that also surpassed the case with Zuckerberg.
However, if there were consistent characteristics with the twins, it was their relentless pursuit of establishing the first traded fund for the Bitcoin exchange approved in the world. While some in the industry have come to find the discourse about ETFs in a nauseating way, particularly in the middle of the bear cycle of 2018, others have announced their approval as a significant step forward for the industry. Despite the efforts of the twins and many companies, the Securities and Trade Commission in the US has consistently denied the approval or delayed decision on ETF proposals, preventing what it considers the safest route for institutional investments to enter the crypto markets.
Speaking in a recent Ask Me Anything (AMA) on Reddit, the Winklevoss twins doubled their commitment to pass a Bitcoin ETF from the SEC, despite previous arrest japs.
I'm doing an AMA on Reddit w / @tylerwinklevoss Monday 1/7 to 13:00 ET – join us as we speak @Gemini and the crypto revolution – come and ask us anything! #RedditAMA pic.twitter.com/m5wGwCR9tE
– Cameron Winklevoss (@winklevoss) 6 January 2019
Current Bitcoin investors, especially those who believe that Wall Street is waiting for more regulation before pouring money into the encrypted markets, will be heartened by the screenplay in which the twins stayed loyal throughout the discussion. By striking some industry-related issues and their Gemini exchange, Winklevoss's AMA reiterated its work towards obtaining the approval of Bitcoin's ETF, a move that many believe it occurs at some point during the new solar year, even in the repeatedly failed attempts of 2018.
"We are committed as always to making an ETF a reality!"
When asked about their opinion on the status of crypto markets, especially after BTC fell more than 70% from its historic high in December 2017, the Winklevoss twins echoed that of a billionaire crypto-supporter Mike Novogratz in warning investors to overcome the storm.
"We believe in the long game … Our thesis on the advantage of Bitcoin remains unchanged We believe that Bitcoin is better than gold and gold If we are right, over time the market capitalization of Bitcoin will exceed the market capitalization of about 7 trillion dollars. "
The Winklevoss twins, who did not disclose their current participation in BTC after last year's market crash, played fearfully when the question was asked by a Reddit user. Unlike revealing the amount of their wallet, the twins opted for a more cryptic but touching response for industry fans,
"Not as many as Satoshi."
Given the lack of regulation and industry standards for both stock exchanges and the development of coin projects, a Bitcoin-traded fund was announced as the most secure and efficient means of institutional investment. Last week, EWN reported on a new Gemini advertising campaign, promoting the need for greater regulation as a necessary step to advance cryptocurrency.
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