Tyler Winklevoss Thinks BTC Has The Potential To Increase By 2500%

One of the Winklevoss twins, Tyler Winklevoss thinks that bitcoin has the potential to increase by 2500% since the benchmark crypto recently set a new all-time high shy of $20,000 on some exchanges. In today’s Bitcoin news, we take a closer look at his thoughts on BTC.

Despite the strong rally from the March lows, analysts think that there’s further room for a rally and Tyler Winklevoss thinks so too. He said that Bitcoin could rally 2500% from the current levels which means it will move towards $500,000. Winklevoss is far the only investor on the market that thinks BTC will see a move to $500,000 and beyond in the upcoming years ahead.

"We've just been HODLing," says @tyler on #btc. "We think there's a 25x from here." #bitcoin pic.twitter.com/dspeSaD3eo

— Squawk Box (@SquawkCNBC) November 30, 2020

Bitcoin set a new all-time high on top exchanges just below 20,000 so to cover the latest leg up of the rally, CNBC’s Squawk Box talked to the Winklevoss Twins who are founders of the Gemini exchange and popular bitcoin billionaires. They said that they believe BTC has the chance to rally exponentially in this cycle and also said that there’s a good chance that BTC will rally 25 times from the current price levels. Previously, the twins elaborated on the investment thesis in the past and wrote:

 “Bitcoin has already made significant ground on gold — going from whitepaper to over $200 billion in market capitalization in under a decade. Today, the market capitalization of above-ground gold is conservatively $9 trillion. If we are right about using a gold framework to value bitcoin, and bitcoin continues on this path, then the bull case scenario for bitcoin is that it is undervalued by a multiple of 45. Said differently, the price of bitcoin could appreciate 45x from where it is today, which means we could see a price of $500,000 U.S. dollars per bitcoin.”

The Twins are far from the only investors on the market that think that BTC will see a move to $500,000. Raoul Pal, CEO of Real Vision shared in an interview that he believes BTC will hit $1,000,000 in the upcoming five years. His bullish belief is based on the fact that there will be a lot of institutional capital that will enter the space and Pal also thinks that it is possible to see a macro shift in the financial system that will put BTC in the spotlight.