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In Reddit AMA Session Gemini Twin Leaders Confirm Commitment to Bitcoin ETF

The Winklevoss Twins held an AMA  (Ask Me Anything) session on Reddit on 7th January to discuss a topic related to blockchain and crypto. 

Tyler and Cameron Winklevoss are very influential in the blockchain community being the leaders of Gemini, a major crypto exchange company.

The twin brothers have always been trying to apply for a Bitcoin ETF (exchange-traded fund). However, the U.S. Securities and Exchange Commission (SEC) rejected their applications twice in the past, the first time in March 2017 and the second in July 2018.

They added that they will start putting in efforts to make Bitcoin ETF a reality and their thesis around the benefits of Bitcoin is still the same as before.

He further shared that they believed BTC  to be a better gold than gold and capable of surpassing the 7 trillion-dollar market cap of gold if their assumptions were correct.

 

 

When asked about the relative importance between blockchain and cryptocurrency, Tyler stated that both cannot exist without one another and commented that blockchain without crypto would be similar to treating AOL, which is a web portal, like the Internet.

Cameron also commented on the long-term potential of fiat and crypto exchanges, stating that fiat onramps are crucial crypto, but he could imagine a future world where crypto is utilized fully, completely replacing fiat currencies.

He proceeded to mention the Gemini dollar (GUSD) during the discussion, which is a stable coin backed by the USD introduced in September 2018.

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