With that said, we believe there are fundamental problems with gold, oil, and the U.S. dollar as stores of value going forward. Below, we will make the case that bitcoin is ultimately the only long-term protection against inflation.
– The case for $500K Bitcoin
This piece is especially important in the context of the ongoing sharp rise in the dollar price of bitcoin. As bitcoin and cryptocurrency gains even more mainstream awareness and institutional acceptance, one must ask how much of this rise is pure speculation and how much is an educated guess about the future of assets & capital in general.
The Winklevosses have been early and big believers in cryptocurrency, and have historically held large amounts of it. They also set up the cryptocurrency exchange Gemini which received New York state’s “bitlicense” to operate.