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Gemini's Winklevoss Twins Willing to Dive into Facebook's Libra Project

Winklevoss twins, namely Cameron and Tyler have been a formidable force in the cryptocurrency space as they initiated Gemini, a regulated cryptocurrency exchange. According to CNN, the twins have resolved to settle scores with Mark Zuckerberg, Facebook’s CEO, by partnering in the Libra project.

Cameron Winklevoss has shown his optimism about Libra even if a collaboration does not take effect. He asserts:

“I think there is a day in the future where we can’t live without crypto, or imagine a world before crypto.”

Cameron has also affirmed that Facebook has set a good precedent of being involved with crypto, and soon other corporates will follow. He stipulates that internet giants such as Google, Netflix, and Amazon may be crafting crypto schemes such as indulging in coin projects. Cameron believes that these institutions are watching closely on what transpires in Facebook’s Libra Project so that they can make their next move.

If a partnership is crafted between the two parties, Facebook will be advantaged because the twins are famous for their proactive methodology when it comes to regulation. The twins have also revealed their intention of being incorporated as members of the Libra Association. Therefore, Winklevoss twins believe that Facebook’s Libra is just the initial player as other companies will follow, and this is a positive trend in the crypto sphere.

Image via bostonmagazine

Nifty Launches First USD-Based NFT Exchange Backed By Winklevoss Twins

Nifty, a centralized USD-based exchange for non-fungible tokens (NFTs), has announced that the Nifty Gateway 2.0 upgrade is live as of March 17.

The platform was bought by Gemini, the crypto exchange and custody provider owned by the Winklevoss twins, in late 2019.

According to the announcement, Nifty Gateway 2.0 is the first USD-based exchange for NFTs, also known as Nifties. All services are available to users globally with the exception of withdrawal to fiat currency, which is only available to US users for the time being.

New NFTs Will be Listed Cautiously

With the revamped marketplace, users can put NFTs up for sale in USD, but Nifty has declared it will be taking a “slow and intentional” approach to approving any new token listings.

Per the announcement, “You may also deposit NFTs from other projects and put them up for sale on the marketplace — however, for the time being, we will be slow and intentional about which NFT projects we support, so that we can handle the volume, and deal with any fraud issues that may arise.”

What are Nifties?

Unlike traditional cryptocurrency like Bitcoin, nifties are unique cryptographic tokens that represent a specific asset on the blockchain.

Leveraging blockchain technology, gamers can use nifties to trade and buy interoperable digital collectables, such as dances, skins, and in-game items. This approach can, therefore, propel the value of virtual goods.

Tyler Winklevoss, the CEO of Gemini, acknowledged: “Non-fungible tokens and the digital goods (collectables) will play a major role in the next era of the digital economy. They are the perfect form factor for crypto-collectables, crypto-art, and much more – laying the foundation for entirely new multi-billion dollar industries to emerge.”

He also added: “We’re excited to be working with Nifty Gateway to extend the reach of crypto across other concepts and build a bridge between NFT creators and the growing ranks of everyday consumers looking to purchase them.”

Conversely, Nifty Gateway’s co-founder, Duncan Foster, noted: “Nifties are a fundamentally new type of digital good and are an important tool for ownership as our lives move more and more online.”

Winklevoss Twins Brief David Portnoy on Bitcoin, BTC Talks Continue

American internet celebrity David Portnoy officially hosted the Winklevoss twins for a long-due conversation regarding Bitcoin (BTC) and cryptocurrencies.

Barstool Celebrity and Winklevoss Talk Bitcoin

Initially calling out the Gemini co-founders in an August 4 Twitter video, Portnoy took to his social media and released a video begging the Winklevoss Bitcoin billionaires to come over to teach him about the cryptocurrency market, repeating numerous times that he didn’t know anything about BTC. He said that he had invested in bitcoins at some point and that he lost the cryptos, jokingly saying that his “20 grand was just sitting somewhere in the Ether.”

The Barstool Sports founder and stocks enthusiast resorted to his usual antics on his Twitter platform and implored the Winklevoss twins to “make it simple.” He said that if they could just show him how to “do it,” invest in Bitcoin in a strategic way, then he will most definitely buy BTC.

Cameron and Tyler Winklevoss both responded to the Davey Day Trader’s video amicably and Portnoy hosted the Bitcoin advocates in a podcast released yesterday.

Winklevoss Billionaire, Always a Bitcoin Fan

Not only does founding the global crypto exchange Gemini count among their exploits, but Winklevoss twins are also known to be the first Bitcoin billionaires. Needless to say, they have both been huge advocates of Bitcoin, which is the largest cryptocurrency on the market, valued north of $11,700 at the time of writing.

The twins have both on numerous counts leveraged their social media presence to educate their followers on the advantages of investing in BTC.

With the US’ economic stimulus strategy in light of the global economic downfall and COVID-19, Tyler Winklevoss had publicly tweeted that the Federal Reserve was continuously “setting the stage for Bitcoin’s next bull run.”

With the Federal Reserve having to print money to deliver economic stimulus relief and the US dollar consequently depreciating in value, Winklevoss is saying that this will in turn drive the price of Bitcoin up on the crypto market.

Bitcoin Emerges from Slump

Winklevoss’ faith in the cryptocurrency has proven to be a self-fulfilling prophecy, as Bitcoin recently emerged from a long slump and has slowly regained its place on the market, creating quite a buzz on Wall Street.

Bitcoin has finally surged past the $11,500 mark for the first time since last September. Cryptocurrency investors worldwide have the utmost faith in BTC, which is the most dominant and valued cryptocurrency on the market. Despite the recent bull run and Bitcoin dropping after having pushed past the $12,000 mark point twice, experts and crypto enthusiasts like the Winklevoss are adamant on Bitcoin still shining and on its future potential on the crypto market.

Wall Street veteran Raoul Pal even publicly stated that according to his predictions, “Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.” Bitcoin enthusiasts are optimistic about the cryptocurrency, despite the global stock market entering “bubble territory” for the first time since 2018, with the ongoing inflation of the US dollar.

DeFi Rules

In parallel to Bitcoin, there has been a recent surge in popularity in the decentralized finance (DeFi) industry, with DeFi altcoins outperforming BTC. Chainlink (LINK) and Band Protocol (BAND) have both witnessed double-digit gains, with LINK altcoins reaching an all-time high on Binance, capping at $14.0551, and reaching fifth place on CoinMarketCap.

“Bitcoin Better Investment than Gold," Winklevoss Says to Dave Portnoy Over Talks on Elon Musk’s Plans to Mine Gold in Space

In an interview released Friday, Cameron and Tyler Winklevoss, the renowned Bitcoin billionaires and founders of cryptocurrency exchange Gemini, got together with Barstool Sports “Davey Day Trader” Dave Portnoy to discuss Bitcoin.

The Winklevoss twins backed BTC to the fullest and said that it was a better investment than gold.

Bitcoin’s Value Will Go Up with Gold Mining

The American internet celebrity reached out to the Winklevoss twins through his Twitter account and asked them to educate him on Bitcoin (BTC) and how to trade and invest in it properly. In their interview with Portnoy, Tyler and Cameron Winklevoss advised the trader to invest in Bitcoin rather than gold. They said that BTC was a safer asset and the only “fixed asset in the galaxy,” as talks about SpaceX and Tesla CEO Elon Musk’s plans to mine asteroids in the future ensued.

The Winklevoss twins elaborated that given Elon Musk’s plans to mine gold from asteroids, gold’s supply is going to increase, whereas Bitcoin is not. BTC has a supply cap of 21 million, which greatly increases its value as a digital asset given its scarcity in comparison with gold. The Winklevoss twins said:

“Gold is a problem because the supply isn’t fixed like Bitcoin. There are billions of dollars of gold floating in asteroids around this planet.”

In the interview, which generated over 500,000 views on Twitter, Cameron Winklevoss emphasized that for his twin brother and him, Bitcoin was like “internet gold”, which is in parallel to what BTC enthusiasts call the digital cryptocurrency these days – “digital gold.”

Winklevoss thinks that Elon Musk will definitely carry out his plans of mining gold from asteroids in space. Following that logic, when that happens, gold will suddenly become worthless, due to its overflow of supply. In contract, there will only ever be 21 million Bitcoin tokens. As gold does not have a fixed supply, Winklevoss hypothesizes that Musk will potentially “destroy gold.” He further said, “Gold is for boomers who don’t understand that.”

JP Morgan Chase: Bitcoin or Gold?

In a study done by JP Morgan Chase, the strategist team behind the US bank found that older investors have a tendency to invest in gold, while millennials and young investors favored cryptocurrency and tech-related stocks more.

With COVID-19 still looming and investors looking for safe-haven assets, the survey found that older investors trusted the traditional safe-haven asset – gold- more as a hedge. As for millennials, they tended to invest in Bitcoin and tech investment stocks more, despite BTC’s high volatility. In other words, with high volatility comes high risk, but the younger generation was willing to take that chance to potentially gain a high return.

Elon Musk Wants to Conquer Gold in Space

With all this talk about gold and space mining, Elon Musk has publicly answered Dave Portnoy on Twitter, linking a NASA news story reported by Fox News that indicated that it is “eyeing up a nearby asteroid that contains enough gold to make everyone on Earth a billionaire.”

US Space Agency NASA has publicly declared in March that Tesla CEO Elon Musk’s company SpaceX will be the one that will launch a mission in space to conquer the asteroid “Psyche 16.”

Winklevoss Backs Bitcoin

In response to Musk’s tweet, Tyler Winklevoss said, “Looking forward to the day when you smash gold out of asteroids.” The Gemini co-founder is supportive, but it is no secret by now that his brother and he are big Bitcoin advocates.

The Winklevoss twin thinks that this is the perfect time to capitalize on BTC, given the stock market’s entry into “bubble territory” and the depreciation of the US dollar with the Federal Reserve mass printing money for stimulus purposes.

Bitcoin Crowned ‘Most Viewed Asset in the US’ Last Month, Along with Tesla Stock

This week, Bitcoin surged in the market again, recording new highs that have not been seen of the digital asset since June of last year.

Bitcoin Breaks Record in 2020

Needless to say, investors have been closely monitoring Bitcoin (BTC)’s bullish behavior in the market after the digital asset surprised the cryptocurrency community by pulling itself out of a long-time slump last month. On the Luxembourg-based Bitcoin exchange Bitstamp, BTC’s market value hit $12,470 per coin, surging by almost 4%, much to the delight of crypto enthusiasts,. Shortly after the digital asset’s bull run, its price descended slowly again, falling back to a more stable level.

At the time of writing, Bitcoin is reported to have passed the $11,500 mark and is valued at $11,928. Investors are anticipating its reach past the $12,000 level in the market.

David Portnoy Talks Bitcoin, BTC Surges

The latest Bitcoin rally was observed after American celebrity and avid trader David ‘Davey Day Trader’ Portnoy came forward and publicly invited the Winklevoss twins to teach him about Bitcoin. The Barstool Sports founder admitted that he had absolutely “no idea what he was doing” when it came to Bitcoin, saying that he had a digital wallet somewhere but that he had lost the keys.

Since then, Bitcoin has rallied and gained over 30% in the last month, according to Forbes. Data findings released by TradingView analysts also indicated that Bitcoin was reportedly the most viewed financial asset in the US last month, trailing behind Tesla stocks.

Tesla, Elon Musk’s prized project, also had a bull run of its own on Monday, following an analysis regarding their yearly price target. Since its gains on the stock market, Tesla has fallen back down a little and maintained a more stable price level.

‘Digital Gold’ Bitcoin in Wall Street Spotlight

David Portnoy’s shared content regarding Bitcoin seems to have triggered a bull run for BTC, as traders were perceived to have renewed interest in the digital asset, starting with Wall Street big-timers and corporate firms directing more attention towards Bitcoin. One BTC advocate is billionaire hedge fund manager Paul Tudor Jones. With the ongoing depreciation of the US dollar sending Bitcoin’s price over the roof, the billionaire had tweeted his regrets and publicly stated yesterday:

“My bet on #bitcoin as a safe haven against the deteriorating dollar is doing incredibly well. My only regret is not buying more. I believe this rise in price we’re seeing is far from over. In fact, it’s just getting started!”

Mixed Views on Portnoy’s Bitcoin Strategy

Though Portnoy’s enthusiasm is welcomed and embraced by some Bitcoin advocates, such as BTC billionaires and Gemini co-founders Tyler and Cameron Winklevoss, the Davey Day Trader has also received divided criticism on other ends.

For example, a FxPro senior analyst shared with Forbes that the interest in Tesla and Bitcoin was spurred by ‘fear-of-missing-out’ (FOMO) investors, who are afraid of missing a once-in-a-lifetime opportunity with Bitcoin’s recent bullish behavior. Alex Kuptsikevich said, “This is almost like a rookie game against the pros. Professionals do not see the ‘business’ in bitcoin and massively short Tesla, a company that accrued massive losses for years and has a tiny share on the overall car market.”

Other cryptocurrency analysts called Portnoy’s “pump and dump” strategy a terrible idea, saying that “it was not a good look for the community,” as they thought that this would devalue digital assets. Famous host of “The Wolf of All Streets” podcast and Bitcoin advocate Scott Melker brought up the question of whether “Davey Day Trader taking the crypto world by storm” was a good thing.

While some investors are saying that Dave Portnoy is bringing good publicity to Bitcoin and prompting its bullish rally, others are arguing that this would lead to a surge and subsequent crash of the cryptocurrency, with new investors who are looking to get rich quickly and through a shortcut suddenly investing heavily in Bitcoin.

This may subsequently lead to a potential “boom and bust” for Bitcoin.

Chainlink (LINK) Hit a New All-Time High in Daily Active Addresses Despite Dave Portnoy Selling Tokens

Just last week, Chainlink’s price reached a new all-time high of $20, after continuous weeks of breaking records. However, Chainlink (LINK) witnessed a strong correction after approaching $20, falling to a low of $14 amid a flash crash.

According to blockchain analytics firm Santiment, LINK hit an all-time high yesterday in daily active addresses even during an altcoin slump. Chainlink’s price plunged to $13.49 and is now back up at $15.63 at press time.

The firm also warned that a lot of altcoin market capitalizations have shrunk on Friday, and many altcoins “looked overinflated.”

A week ago, Dave Portnoy, founder of Barstool Sports decided to invest in cryptocurrencies including Bitcoin (BTC) and Chainlink, after a discussion with the Winklevoss twins. Tyler and Cameron Winklevoss, the founders of the Gemini exchange said that Bitcoin was a safer asset than gold, as Elon Musk is planning to mine asteroids in the future.

Since Bitcoin has a fixed supply, and Elon Musk’s plan to mine gold from asteroids could potentially increase gold’s supply, Bitcoin’s value as an asset would increase due to its scarcity in comparison with gold, according to the Winklevoss twins.

Portnoy revealed that he invested $200,00 in Bitcoin and $50,000 in Chainlink, however, the altcoin saw a 30 percent decline amid a market correction, resulting in a loss that triggered his new announcement. He tweeted that he could be done with cryptocurrencies for good:

“I currently own zero bitcoins. I will wait and watch. I lost 25k. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done.”

LINK suffered a 30 percent dump since Portnoy announced his bullishness for the token, saying “LINK to the moon.”

According to Portnoy, he decided that the cryptocurrency market may not be worth it as he makes “6 figures every day” in the real stock market, and “losing of any kind is unacceptable.” He added, “Six figure days or bust.”

On-chain data showed that Chainlink’s slump will be followed by a bullish trend reversal, and the LINK community believes that LINK whales have increased their balances, and will continue to purchase more LINK. If Chainlink sees a bullish trend reversal, perhaps Dave Portnoy should have HODL-ed.