The co-founders of the cryptocurrency exchange Gemini Cameron and Tyler Winklevoss, also known as the Winklevoss twins, think that Bitcoin is considerably more reliable than gold, because there are huge deposits of the metal out in space on asteroids.
Popular trader Dave Portnoy hosted an interview with the crypto billionaires, in which they suggested that Elon Musk will sooner or later mine gold from asteroids, so Bitcoin is a more reliable investment. The price of Bitcoin and gold is driven up because of the limited supply of these assets, but when gold deposits in space are utilized, then the price of the metal will collapse.
“We view Bitcoin as the gold of the Internet era. If Elon Musk begins mining operations of gold on asteroids, then its value will become obsolete. Billions of dollars in gold fly in proximity to our planet, but there will perpetually be only 21 million Bitcoins. Elon Musk will topple gold. Investing in this asset is for old-timers who don’t understand the situation,” the founders of Gemini noted in the mentioned interview.
Elon Musk issued a response to a post from Portnoy on Twitter. He sent a reference to a NASA report, that supports the claim there are a lot of gold deposits on asteroids. Meanwhile, Musk SpaceX was chosen by the agency in March this year to launch a scientific research mission to the asteroid Psyche 16.
“Elon will not be able to manipulate the number of Bitcoins. It is the only fixed asset in the galaxy,” highlighted Cameron Winklevoss.
In April, Cameron Winklevoss spoke of the coronavirus pandemic as a watershed moment for Bitcoin.
