Bitcoin supporter and brother of the cryptocurrency exchange Gemini founder Winklevoss said that in the cryptocurrency market, retail investors still dominate.
In an interview with CNN this week, Tyler and Cameron Winklevoss expressed their views on bitcoin investment and industry risk, and explained the attitude of traditional finance to this emerging asset.
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Buy new internet currency
Although many people still believe that Bitcoin is too risky for ordinary investors, Tyler believes that, on the contrary, retail investors are still ahead of financial institutions in terms of cryptocurrency. he thinks:
"In the Internet age, you can't buy a part of the Internet, but unlike now, you can buy some new Internet currencies. This is still a retail-driven market, always like this… Many people are doing very well. Wall Street has always been absent-minded."
Among the many traditional investments, Cameron added that Bitcoin is most similar to gold – a new way of storing value in the digital age. He said that although bitcoin prices may fluctuate, this is the future. He emphasized:
"We have to invest (bitcoin) because we are worried about missing the opportunity, we can't miss this future."
Overrated risk problem
Although the twin brothers are as keen to show that they are willing to stay in touch with regulators – “Compliance is the DNA of our business” – they have also given a fresh perspective on people's perceptions of encryption-related risks.
Tyler said that Facebook's Libra has not even been launched – no one has used it to do anything illegal – but there are already regulators lingering.
He stressed that although Bitcoin could be used by evildoers – such as Dark Road Silk Road and the Internet research institute of the Kremlin during the 2016 US election – many of them are now in prison.
“Smart criminals,” Tyler pointed out, “will not use Bitcoin because it is actually very easy to track.”
The main point is: "In criminal activities, the use of dollars is more frequent than other payment methods."
Recently, it has been reported that the Wenkleworth twins have revealed that they are willing to cooperate with the former rival Mark Zuckerberg on Libra, but also said that they still need to know more about the project. detail.