Winklevoss Twins Talk Their Bitcoin Price Target & Potential Stablecoin Regulation on CNBC - Dec 10th 2020By admin
The Winklevoss twins’ thesis is simple. For them, Bitcoin is gold 2.0 that will eventually disrupt gold:
“Our thesis is that Bitcoin is gold 2.0 and it will disrupt gold.”
Based on this observation, the Winklevoss twins believe that Bitcoin will reach the gold market cap in the next decade. The gold market cap is currently $9T.
The advantage of Bitcoin is that its monetary policy is programmatic. Everything is predictable. We can therefore estimate fairly accurately the number of Bitcoins that will be in circulation in 2030. This number will then be 20 million BTC.
If Bitcoin has a market cap of $9T in 2030, the price of Bitcoin will be $450K.
Over the next decade, the great monetary inflation we are currently experiencing will continue to intensify. Under these conditions, the U.S. dollar will continue to weaken, which will boost the price of gold, but also the Bitcoin price.
Under these conditions, the Bitcoin price could be closer to $500K than $450K with a market cap similar to that of gold in 2020.
The reasoning of the Winklevoss twins is the same reasoning that many Bitcoiners do as well. It is based on three major elements:
The law of supply and demand.
The gold market cap.
The endless inflation of the U.S. dollar.
With its current price of $18K, Bitcoin has enough to offer a 25x gain to all those who will choose to buy it before becoming HODLers.
By Guest Nicole
A swipe here, a swipe there – credit card spending can easily get out of hand, and when you’re saddled with credit card debt the road toward financial freedom can seem endless. Try this 30-day challenge from personal finance experts Ric Edelman and Lynnette Khalfani-Cox to help you take charge of your finances once and for all.
Freeze Your Credit Cards…Literally
The first step to regain control of your money is to stop using plastic. Call up your credit card company and place a hold on your account. If you know you need to use your card in the future, put your credit card in a Tupperware and place it in your freezer. Literally freezing your card forces you to be mindful of how many times you reach for it. This action imposes a cooling-off period so you can rethink your purchases and determine if they’re truly necessary since you’ll have to wait for the card to defrost before using it.
Limit Debit Card Usage to Once a Week
If you do need to charge a purchase or transaction, you can still reach for your debit card, but only four times a month or once a week. This gives you the opportunity to think before you swipe and you’ll be less likely to spend money you don’t already have since your debit card is automatically linked to your checking account.
Visit Your ATM Only Once a Week
Using cold, hard cash every day means you will get a clearer idea of how much you can spend over a set time period. At the beginning of each week, withdraw enough cash for seven days and see how far your money can go. You’ll be required to plan your purchases strategically to ensure you’ll have enough to last until your next visit to the bank.
Track Your Savings
In order to meet your financial goals, you’ll need to track where each dollar and penny goes. Don’t get caught blindsided again by a missed payment, bounced check, or insufficient funds in your account. Make a spreadsheet, keep a running list, or use an app on your smartphone to help you get organized and determine which areas you can improve upon.
Reorganize Your Wallet
Take a deep look inside your wallet and clean out any unnecessary cards or items. Keep only the items you’ll need in the short-term within reach so you won’t be tempted to use what you don’t have. You can rotate cards if you need to or use an organizing system with a sticky note and paper clip to allocate money – nothing fancy necessary! Once your money has been spent for the week, reconsider your purchases and compare that with your budget. Revisit this routine regularly to make sure you're making the best decisions.
By Money & Finance
Cameron and Tyler Winklevoss, Gemini Trust Company co-founders, discuss their bitcoin exchange and the future of cryptocurrencies. They speak with Bloomberg's Erik Schatzker at the SALT Conference in Las Vegas on "Bloomberg West."