Several hours ago, the Tyler and Cameron Winklevoss, the co-founders of Gemini – a major crypto exchange company, confirmed their commitment to the pursuit of Bitcoin ETF during an Ask Me Anything (AMA) session on Reddit.
When asked if the coin will remain as the top crypto, Cameron’s optimism regarding Bitcoin was displayed when he said, “Bitcoin is certainly the OG crypto!” he believed that, in terms of “hard money,” it would most probably be the winner in the long term because of “it’s hard to defeat network effects.”
The identical twin was asked a question regarding the relative importance between blockchain and cryptocurrency. Tyler’s response was that, “one cannot exist without the other.” He also added that, “A blockchain without a crypto is like treating AOL (a web portal) as the Internet.”
They also believe that Bitcoin is better at being gold than gold and they expect the market cap to surpass 7 trillion dollar mark of gold in the future.
It must be noted that the twins application for Bitcoin ETF (exchange-traded fund) was rejected twice. The US Securities and Exchange Commission (SEC) rejected their first application in March 2017, and their second application in July of 2018.
According to SEC, they were rejected because a large portion of Bitcoin trading happens outside on “unregulated exchanges outside the United States” in addition to the low liquidity of the cryptocurrency.
In the AMA session, they affirmed they are committed as ever to making an ETF a reality!