Tyler Winklevoss Thinks Bitcoin's Price Will Soar To $500,000 If The Asset Overtakes Gold As A Hedge Investment

One of the first Bitcoin billionaires and co-founder of crypto exchange Gemini, Tyler Winklevoss, says Bitcoin could appreciate 45 times from its price today, allowing the asset to hit $500,000.

Winklevoss believes Bitcoin could overtake gold as a leading safe-haven asset. Gold's market cap stands at $9 trillion while Bitcoin sits at $200 billion. If Bitcoin were to surpass gold as a safe-haven it could see a 45-fold upside. 

Winklevoss argued in an interview with Cointelegraph that the supply of gold is unknown, while the Bitcoin supply is fixed. If a massive supply of gold were discovered, the asset's price would tank. That will never happen with Bitcoin.

He added that with rising inflation rates assets like gold or Bitcoin could outrun capital stored in banks. Winklevoss said that if valuing Bitcoin using gold's framework turns out to be correct and Bitcoin continues on its current path then it is likely undervalued by a multiple of 45. 

By Emily Mason

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