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Winklevoss Twins Say Bitcoin Regulation Necessary to Safeguard Investors

Winklevoss Twins Say Bitcoin Regulation Necessary to Safeguard Investors

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The Winklevoss twins have come forward in favor of crypto regulation despite the recent price tank in the market. The billionaire co-founders of the crypto exchange Gemini, Cameron and Tyler Winklevoss (the Winklevoss twins) are also still hopeful for a quick market recovery.

Expressing their views in an interview with Fortune, they also discussed comparisons of Bitcoin to gold, believing that the usage of stablecoins will increase in the crypto industry.

The timing of this interview is important as it came just a week after their eyebrow-raising advertising campaign in which buses, bus stops and taxis all over the New York bore the Gemini ads saying “Crypto Needs Rules”. This campaign initiated a country-wide debate to regulate the cryptocurrencies in a manner that it does not hinder blockchain technology’s growth.

Tyler Winklevoss added that crypto-based businesses have a huge potential as people desperately want to invest in such companies. However, the uncertainty in regulations is holding them back. He argues that people don’t want to get burned in the process so crypto regulations which do not hinder the innovation must be brought as soon as possible.

Furthermore, Cameron Winklevoss stated that stablecoins had the potential to simplify the flow of reserve currencies like the dollar, only on blockchain. He made his assessment based on the fact that more than half of the USD 100 bills are held overseas.

The Winklevoss borthers are not the only ones to predict such a bullish future. Recently, Lou Kerner of Crypto Oracle also suggested that in future, Bitcoin would replace gold as a better store of value.

 

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