Bitcoin (BTC): Winklevoss brothers predict a rise to $500,000

Despite the recent collapse in its price, many fervent bitcoin supporters still believe in its potential. The Winklevoss brothers, Tyler and Cameron, are among those bitcoiners who see the asset reaching new heights.

According to the Winklevoss brothers, bitcoin will reach $500,000

Recently, the price of bitcoin plummeted to $25,000. Since then, the asset has slightly recovered to a valuation of $26,000. It remains uncertain whether this trend will persist given the market circumstances.

Nevertheless, the flagship cryptocurrency is considered resilient enough to surpass a new threshold. This is the opinion expressed by the Winklevoss brothers in an interview with The National News.

The twins are convinced that the unique characteristics of the crypto will significantly contribute to this momentum. According to them, the asset possesses the necessary relevance to compete with and even surpass the valuation of gold.

As a result, Tyler and Cameron Winklevoss believe that bitcoin is in pole position to be worth $500,000. This milestone can be achieved if the asset manages to confirm its effectiveness compared to gold. In fact, J.P. Morgan expects the price of bitcoin to reach $45,000 thanks to gold.

Considering the particularly volatile circumstances of the crypto market, these projections may seem far-fetched. However, several players in the crypto industry firmly believe that bitcoin will experience an unprecedented bull run.

For instance, investor Cathie Wood recently reaffirmed projections she made last year. According to her, bitcoin will be worth $500,000 by 2026, with a valuation of $1 million by the end of the decade.

Similarly, Arthur Hayes, co-founder and former CEO of BitMex, has made similar predictions. The expert believes that, in the event of a collapse of the global banking system, the queen of cryptos will be worth $1 million.