Rajarshi Mitra
Independent Analyst
- Following the Coronavirus outbreak, the price of Bitcoin has fallen drastically.
- Tyler Winklevoss, the CEO of Gemini, said that Bitcoin will “emerge stronger than ever.”
Amidst Bitcoin’s massive plunge in recent times, Tyler Winklevoss has expressed hope and remains optimistic. He believes that Bitcoin will outperform the present negative sentiment, and it will “emerge stronger than ever.” Following the Coronavirus outbreak, the price of Bitcoin fell from over $10,000 to $3,600 on some exchanges.
Though the price recovered slowly and reached $5000, many industry experts are still predicting a bearish future. However, Tyler Winklevoss, co-founder and CEO of Gemini, has taken a different stance. He noted that Bitcoin has already overcome many obstacles and it’s too early to outcast it.
Bitcoin was born in 2008, during the winter of our financial discontent. It has already weathered much to be here, and it seems unlikely to give up anytime soon. It will emerge from this current calamity stronger than ever. Decades are not measured in days.
Tyler Winklevoss and Cameron Winklevoss were among the first popular adopters of Bitcoin. When Bitcoin reached its all-time high in December 2017, the twins’ Bitcoin holdings were equivalent to $1.3 billion.
Tyler Winklevoss was not the only one who expressed his hope for Bitcoin. Whistleblower Edward Snowden showed his support for the currency as well. He said that there is no real reason behind the recent price plunge. Therefore, for the first time in a while, he was contemplating purchasing Bitcoins.
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