Tyler Winklevoss, one of the co-founders of the popular Gemini cryptocurrency exchange, has recently argued on social media that the price of bitcoin could surpass the $15,000 mark with ease if it manages to break the psychological $10,000 mark.
The entrepreneur’s prediction could see the flagship cryptocurrency get back to its all-time high near $20,000 in no time, as data shows back in 2017 it only took about eight days for BTC to go from the $10,000 mark to $15,000.
If bitcoin breaks 10k, you can bet it’s going to break 15k...👍🏻🚀— Tyler Winklevoss (@tylerwinklevoss) June 19, 2019
It took the cryptocurrency little over a week to then get to its all-time high, before the market turned and the price of most cryptocurrencies started plummeting. BTC ultimately hit a $3,200 low in December of last year before starting to recover.
The recovery has been such that bitcoin has since tripled, and is currently up by over 140% since the year started. Behind the cryptocurrency’s rally are various factors, including its halving event next year, its hashrate hitting an all-time high, and recent tensions between the U.S. and Iran.
Tyler Winklevoss himself has in the past made a bullish case for bitcoin, arguing the cryptocurrency is “gold 2.0.” Per the Gemini exchange co-founder, BTC has a lot of room to grow as its current market cap is of less than $200 billion, while that of gold is of around $7 trillion.
Tyler’s recent tweet received an interesting reply from eccentric cybersecurity expert John McAfee, who claimed that if bitcoin’s price breaks the $100,000 mark, it’ll break the $1 million mark in the future.
If Bitcoin Breaks 100k you can bet it will break a million:)— John McAfee (@officialmcafee) June 19, 2019
McAfee’s reply is referencing to his famous claim that one bitcoin will be trading at $1 million by the end of 2020, which is currently being tracked by a website that shows we’re currently about 85.4% below his price target. To be on target, bitcoin’s price would need to increase by over $67,000.
The Winklevoss twins themselves – Tyler and his brother Cameron – are known for being early bitcoin investors, and have sent McAfee a signed copy of Ben Mezrich’s novel on them, called Bitcoin Billionaires. It details how they got into the cryptocurrency space.
Addressing their bitcoin holdings earlier this year during an interview, the Winklevoss twins responded to a question on whether they’re the biggest bitcoin owners in the world. Per Cameron Winklevoss, bitcoin creator Satoshi Nakamoto “probably has more.”