Winklevoss twins: bitcoin could hit market cap of $400 Billion

They believe the market cap could reach 100 times higher than it is right now.

AccessTimeIconNov 12, 2013 at 9:30 p.m. UTC
Updated Sep 14, 2021 at 2:10 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Winklevoss brothers are incredibly bullish on bitcoin, saying recently that its market cap could reach 100 times higher than it is right now.

The twins, who are major investors in bitcoin after becoming wealthy from an early partnership with Facebook founder Mark Zuckerberg, told CNBC at the Dealbook conference in New York that a $400bn market cap for BTC would be a "small bull case scenario".


By some calculations, bitcoin may be worth more than the money in circulation in some countries, although that doesn't take into account other economic factors such as GDP.

Also, countries regulate their currencies. With bitcoin, however, there are no guarantees since it is not backed by any state authority. This has made the virtual currency relatively risky, as scams and fraud have been prevalent. Nevertheless, the Winklevoss twins still believe that there will be favorable regulation regarding it.

"I think everyone recognizes the innovation and doesn't want to stifle it. They just want to make sure there's healthy regulations so it's used in a safe and productive manner," said Cameron Winklevoss.

The Winklevoss twins have a vested interest in bitcoin's growing popularity, as is obvious by their reported investment of somewhere in the neighborhood of 108,000 BTC, according to Business Insider. That would be worth around $37M at a recent CoinDesk BPI valuation.

But they also want to bring bitcoin to the masses through an exchange-traded fund. The Winklevoss Bitcoin Trust filed for a $20m IPO with the Securities and Exchange Commission, in July. No date for the offering has been set.

The twins believe that even though bitcoin can be used for criminal activity, such as for black marketplaces like Silk Road, there is a lot of very legitimate demand for it as well.

"Prices are double what they were before Silk Road was shut down. So the demand to use bitcoin for illicit activity was clearly almost zero," said Tyler Winklevoss.

The twins believe that bitcoin has some similar values to gold, an asset that many investors buy because they lack faith in the US dollar.

"Some people definitely view it as Gold 2.0," Tyler Winklevoss told CNBC.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about