Winklevoss brothers: ‘We want to bring back the Golden Age, but in digital form’
“Bitcoin is not even a tenth of what it will eventually be worth. The price will one day reach the $1 million mark. It is the greatest innovation of the past century and will perhaps form the foundation of the economy for the next 500 years.”
Cameron and Tyler Winklevoss, best known as early Facebook investors, were decidedly optimistic about Bitcoin’s future at the Bitcoin Amsterdam conference.
The brothers are not only behind the cryptocurrency exchange Gemini, but are also involved with Treasury, the main sponsor of the conference. As the name suggests, Treasury holds Bitcoin reserves as its primary asset, instead of cash, similar to how companies have traditionally held dollars or euros. The company was recently listed on the Amsterdam stock exchange.
Bitcoin Amsterdam is the annual gathering for hardcore bitcoiners, who are not fans of altcoins. Nevertheless, as several speakers admitted today, Bitcoin has seen better days. Recently, Bitcoin even briefly dipped below the psychological threshold of $100,000.
Investment firm Galaxy lowered its end-of-2025 forecast from 185,000 to 120,000 dollars, as major investors (whales) sold around 400,000 BTC collectively in October alone, causing the price to continue to fall. Although Bitcoin is often described as digital gold, gold and silver have performed much better recently.
Still, there was plenty of positive news. The central bank of the Czech Republic, Česká národní banka (ČNB), has become the first central bank in the world to officially invest in Bitcoin. In a press release on Thursday, the bank announced it had set up a test portfolio of around $1 million, comprising, among other things, Bitcoin, a US stablecoin, and a tokenised bank deposit.
The brothers have unshakable faith in Bitcoin, even now that things are a bit tough. “It’s hard to predict when the next price jump will occur or what the catalyst will be. It could be interest rate cuts or something else. But the price really will go up.”
According to the brothers, we are only at the beginning, comparable to the time when the Dutch East India Company had yet to set sail or Columbus had not reached America. “We are still dealing with governments that are hostile towards us, even as it becomes increasingly easy to obtain Bitcoin. No one is forcing you to buy Bitcoin; it started with a white paper and a mailing list. People were excited about decentralised money. If we had lived in the nineteenth century, we’d probably have invested in railways or steamships – crypto is just as significant a development. We believe Bitcoin will become the world’s reserve currency.”
The brothers believe that gold will become less important in the distant future. “It’s less scarce than you think – in the future we’ll be mining gold and other metals from asteroids, which will push prices down.”
The brothers particularly highlighted the fact that regulation under Trump in the US helped Bitcoin. “When Trump was elected, we were invited to the first Crypto Summit at the White House. Before that, as a crypto-entrepreneur, you were quickly condemned to the Jail House. Meanwhile, Europe is leading the way with the MICAR regulations, which will make Gemini the crypto company in Europe.”
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