The Case for $500K Bitcoin with Cameron & Tyler Winklevoss

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“The question in our mind is not so much does it get to $500K, but how quickly.”
— Cameron Winklevoss

SHOW DESCRIPTION

Location: Squadcast
Date: Tuesday 20th October
Company: Gemini
Role: Co-Founders

In August, Cameron and Tyler Winklevoss released The Case for $500K Bitcoin. A paper that outlines the value proposition of Bitcoin, why it is a superior store of value and hedge against inflation than either gold, oil and the US dollar.

In the paper, they describe the world as ‘drowning in debt’, even before the coronavirus outbreak, and predict that the pandemic may cause everyone to come face to face with the reality of debt spiralling out of control.

While the impact on the world may be scary for the broader economy, the twins outline Bitcoin as a major winner in this scenario and predict Bitcoin’s market cap to grow from its current market capitalisation (approx. $225 billion) to that of gold (approx. $9 trillion). With the price of a Bitcoin at around $550K.

We discuss their paper, why Bitcoin is the best hedge against inflation, the debt reckoning and Wall Street investing in Bitcoin.

TIMESTAMPS

00:04:37: Introductions
00:05:17: The twins' inspiration for the "$500k Bitcoin"
00:09:43: The coronavirus pandemic and the US economy
00:11:33: The ongoing education of Bitcoin
00:14:52: Fiat currency as a long-term experiment
00:17:58: The likelihood of a devaluation
00:19:02: Referencing, "Gradually, Then Suddenly"
00:24:57: Corporates investing into Bitcoin
00:27:13: "Compound interest is the eighth wonder of the world"
00:28:22: The political incentive to stop the money printer?
00:33:45: The helicopter money concept
00:37:39: Purchasing Bitcoin versus purchasing gold
00:45:05: Peter's own journey into Bitcoin
00:47:01: The possibility of regulatory issues on Bitcoin
00:51:00: Global catalysts for increased Bitcoin interest
00:57:39: The twins' reaction to MicroStrategy and Square Bitcoin investments
01:01:45: Small companies buying into Bitcoin
01:05:17: The twins' thoughts on the future of Bitcoin
01:09:45: Bitcoin Core developers and the sponsorship question
01:16:04: The sequel, "Bitcoin Billionaires"
01:21:37: Peter proposes Bedford Football Club sponsorship!
01:22:16: Final comments

 

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SHOW NOTES

PodcastPeter McCormack