Currency exchange founders Gemini, Tyler and Cameron Winklevoss in a revelation explained the recent movement of Bitcoin (BTC) to the highest level was in contrast to the bullish trend that occurred in the previous year.
Through CNBC's Squawk Box Asia during the FinTech Festival in Singapore, Tyler said the all-time high of $ 19,779 in early December showed that Bitcoin investors this year were far better off investing by buying the asset in silence.
It is no exaggeration for the individual to equate them with the famous figures of Paul Tudor Jones and Stanley Druckenmiller.
"It is not because of FOMO so it is very different from the highest record history in 2017," he said.
The record has surpassed all-time high in 2017. However, in 2018 Satoshi Nakamoto's asset prices plummeted, driven by retail speculation.
This time the Bitcoin spike stemmed from buyers' trust in the coin as a valuable savings asset, far greater than gold with the expectation of reaching $ 500,000 for another decade.
Large firms such as Square and MicroStrategy are investing in Bitcoin due to concerns over inflation by printing money and stimulus due to the spread of the COVID-19 epidemic.
Tyler also highlighted the increase in the amount of US dollars printed and debt causing it to make sense for the administration to pay off debts, causing most to start switching to BTC.
At the time of writing, Bitcoin is trading at $ 19,178, up 0.06% from a record 24 hours, $ 18,960.
