In a recent interview on the popular crypto-focused Youtube channel, Thinking Crypto, Cameron, and Tyler Winklevoss, the founders of Gemini crypto exchange and custodian, threw more light on Bitcoin and its Third Halving that took place more than a week ago
First, they acknowledged that most people view the cryptocurrency industry as a scary place mainly because of the fact that it is a new asset class and bearing in mind the number of hacks and theft occurring in the space each day and also the lack of trust in most crypto exchanges and platforms.
No crypto without Bitcoin
It is important to note that although Bitcoin is dubbed the digital gold, its market cap is a lot less than Gold, but Bitcoin has a lot of potential including projects that are constantly evolving, and that is the beauty of Bitcoin.
They also made it clear that Bitcoin is the king of cryptocurrencies because “we wouldn’t be talking about crypto without Bitcoin.” It is virtually one of the greatest contributions that have ever been made in the field of technology.
Bitcoin has paved the way for everything else to be decentralized, therefore its purpose is serving as much more than just a store of value. “The actual asset of Bitcoin may just be from a practical standpoint, store of value, but from a spiritual and an innovative standpoint, it’s changed the entire world.”
Bitcoin: the only vaccine for money printing disease
Bitcoin has also proved to be a hedge against the money printing “disease” infecting almost every country in the world today which has brought about high levels of inflation rather than remedy the economic crisis that was brought about by the COVID-19 pandemic.
It would have been a totally different case if this pandemic struck at a time when Bitcoin had not been invented and “there is no alternative, no other choice, no other system to try out.”
The just-concluded Bitcoin Halving was, according to the Winklevoss Twins, the most significant of the three Bitcoin halvings in history mainly because it was “the first halving that people on the mainstream level actually understood what was happening.”
The pandemic actually made several other use cases of Bitcoin to stand out and this has increased people’s consciousness of the crypto industry, prompting one of the popular figures in the world, the author of Harry Potter, J.K Rowling, to ask about Bitcoin.