The Winklevoss twins have long been solid advocates for bitcoin and cryptocurrencies, buying up gigantic sums of bitcoin and establishing the U.S. Gemini crypto exchange.
The price of bitcoin, presently back over $10,000 per bitcoin after plunging under the psychological mark earlier this month, has climbed about 200% so far this year, encouraging bitcoin bulls who had dreaded last year’s bear market may drag on through 2019.
Now, the Winklevoss twins have cautioned Wall Street banks have been “asleep at the wheel” on bitcoin and cryptocurrencies. This is something that’s helped bitcoin retail investors.
“Unlike the internet, which you couldn’t buy a piece of, you can actually buy a piece of this new internet of money,” Tyler and Cameron Winklevoss said through CNN.
The twins warned, “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.”
Bitcoin’s epic 2017 bull run, which witnessed the bitcoin cost take off from under $1,000 per bitcoin at the starting of the year to nearly $20,000 in December, was generally thought to be caused by Wall Street and institutional investment that could flow into bitcoin and crypto.