Bitcoin Is The Future: Gemini’s Winklevoss Twins

For many years, the Winkleworth brothers (Cameron and Tyler Winklevoss) have long been known for the Facebook company they didn't create. Now, the twin brothers want to be known for their support for cryptocurrencies, and they liken it to another powerful social network.

The twin brothers spent many years with Mark Zuckerberg, arguing that they had stolen their idea of ​​creating Facebook and ended up with $65 million in settlement payments. Today, they became the first bitcoin billionaires and launched their own cryptocurrency exchange Gemini for digital currency trading, so they became famous here.

The Wenkleworth brothers said:

Money is the oldest social network and arguably the strongest," Cameron Winklevoss told CNN Business at SXSW in Austin. "And crypto is one of the strongest networks of value ever in the world and will continue to be so, so hopefully we'll be pioneers in that space to some extent.

Despite the volatility of cryptocurrencies – bitcoin has fallen from a peak of nearly $20,000 to less than $4,000 – they are still optimistic about their future.

Yes, there's been some ups and downs in between, but overall if you zoom out long enough, the trend is going in the right direction," Tyler Winklevoss told CNN Business at SXSW in Austin. "The graph is still up and to the right.

Although they are reluctant to disclose their trading activities and are not willing to disclose whether they have sold a lot of bitcoin, Tyler Winklevoss confirmed that they still hold a variety of cryptocurrencies, including Bitcoin, Ethereum, BCH, Tezos and Filecoin.

They entered the field in 2012, when the price of Bitcoin was only $8. Tyler Winklevoss described the field as "a terrible, wild west-style environment."

We've tried to solve that problem by creating Gemini, which allows you to engage with crypto in a regulated compliant trusted way,

 Tyler Winklevoss said.

We're trying to make it easy to onboard because our own experience in the space was very difficult, scary, and risky, and we've spent the last five years trying to mitigate that.

It's been really fun to be a part of two major revolutions or movements, 

Tyler Winklevoss said. 

I guess we sort of have a thing for networks: Facebook (FB) being a social network and then money or crypto being the ultimate social network.

Although the cryptocurrency sector has been criticized by veteran investors such as Buffett, the industry has been growing rapidly. In fact, even Facebook has to issue its own stable currency.

In response, Cameron Winklevoss responded:

It's very exciting and validating for the space of crypto.