Winklevoss Twins on Bitcoin: ‘Wall Street Has Been Asleep at the Wheel’
Marie Huillet's original article for cointelegraph.com reduced by 60%
The Winklevoss twins - Bitcoin bulls and founders of the Gemini crypto exchange - say its retail investors who are still largely reaping the benefits of the crypto market. In an interview with CNN Business on Aug. 22, Tyler and Cameron Winklevoss gave their perspective on Bitcoin as an investment, industry risks and the traditional financial sector's approach to the new asset class.
While many still regard Bitcoin as too risky a bet for the average investor, Tyler argued that on the contrary, the retail sector remains one step ahead of financial institutions when it comes to crypto. "Unlike the internet, which you couldn't buy a piece of, you can actually buy a piece of this new internet of money. It's still a retail-driven market, from day one and a lot of people have done really well.
Wall Street has been asleep at the wheel." Of all traditional investments, Cameron added, Bitcoin is most similar to gold - a new store of value for the digital era. While Bitcoin may have been used by bad actors - think Silk Road and the Kremlin's Internet Research Agency during the 2016 U.S. elections - many of those are now in jail, he emphasized.
"Smart criminals," Tyler noted, "Aren't using Bitcoin, because it's actually very traceable" - with ever more sophisticated blockchain forensics tools being developed.
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CN [too long; didn’t read]
Summarised crypto news.