Winklevoss had predicted in 2015 that Bitcoin market cap will reach $1 trillion, which came to pass in 2021.
A central bank will have Bitcoin on its balance sheet, because they have gold on their balance sheet, said bitcoin advocate Tyler Winklevoss, cofounder of Gemini, in a recently held AIM Summit webinar on Converging Crypto and Capital markets.
Winklevoss had predicted in 2015 that Bitcoin market cap will reach $1 trillion, which came to pass in 2021. “At some point, a central bank will have Bitcoin on its balance sheet, that just will happen because central banks have gold on their balance sheet. And Bitcoin is gold to point out,” said Winklevoss.
“I do think you have a world where every company, private public companies are putting Bitcoin on their balance sheet. You’ve got sovereign wealth, endowments, central banks as well, because it’s just, they’ve already been doing this with gold, and everybody recognises that Bitcoin is a better version of gold.”
The famous Winklevoss twins — Cameron Winklevoss and Tyler Winklevoss — you may recall are known for their legal battle with Facebook, founder Mark Zuckerberg, but that is past. The Winklevoss twins have penned a complete new journey and easing the path for investors of digital assets.
The AIM Summit webinar on Converging crypto and capital markets also hosted Frederick Pye, chairman and CEO of 3iQ and Zachary CEO of Dalma Capital.
“Our advice for Cryptocurrency investors in the Middle East would be start with a liquid and regulated investment that can be tracked in the context of a regular portfolio. Embrace bitcoin as either a long term technology play, a potential future store of wealth or a portfolio diversifier. Bitcoin is the technology platform of the new digital world,” said Pye.
Canadian digital asset management firm 3iQ received regulatory clearance for a dual listing of the Bitcoin Fund (QBTCu.TO) on Nasdaq Dubai, making it the Middle East’s first indexed cryptocurrency digital asset-based fund.
The Bitcoin Fund, which was listed on the Toronto Stock Exchange last year, has roughly $1.5 billion in assets under management and plans to manage double that next year, Frederick Pye, chairman and CEO of 3iQ, told Reuters in an interview.
“The idea is bitcoin trades 24 hours a day … so our interest is to bring a regulated product to the Dubai market in their time hours,” Pye said.
The shares are expected to start trading on Nasdaq Dubai in the second quarter. Pye said 3iQ is already in talks with exchanges in Singapore, Taiwan, Sweden and the United States to list the Bitcoin Fund in those markets, eventually aiming for cryptocurrency trading around the clock.
Dalma Capital, a Dubai-based alternative investment firm, was 3iQ’s syndicate manager for the fund’s Middle East expansion. Corporate finance advisor 01 Capital and investment firm Razlin Capital, both London-based, advised on the listing and Pinsent Masons was legal…