The Winklevoss twins: bitcoin will cost $ 500 thousand

Tyler and Cameron Winklevoss once again emphasized the growing reliability of Bitcoin against the background"Fundamental problems" with gold, oil and the US dollar.

In their blog, the billionaire brothers predicted the rise in the price of the first cryptocurrency to $ 500 thousand:

Money invested in assets such asreal estate or the stock market will keep up with the times. The money held in gold will outpace inflation. And money held in bitcoins will be the fastest to profit, overtaking gold.

Crypto enthusiasts believe that almost all assets are now losing out to digital currencies. The twins indicate that the Fed continues to print trillions of government money.

Even before COVID-19, the government was printing money like a banana republic.

In addition, the coronavirus epidemic is expected to increase the US debt to GDP ratio this year more than it has in the past 10 years. The brothers note that there are problems with both oil and gold.

Oil suffers from the fact that its supply is larger than what was realized with the advent of hydraulic fracturing, while COVID-19 has made it clear that the industry is vulnerable to demand shocks.

They predict that demand will also be hurt by the need to move away from carbon-based energy to cleaner alternatives.

Gold, currently a reliable store of value and a "classic inflation hedge", may lose its status due to commercial mining from asteroids.

In addition, the precious metal is difficult to transport, especially during a pandemic. Bitcoin doesn't have these problems.