The Winklevoss twins are currently running an aggressive campaign to build awareness among the masses with respect to crypto and Bitcoin. Whether it is a billboard, NYC streetside signage, or a ‘crypto bus’ pacing the streets of Manhattan – they are determined to spread their message.
A message that has served to annoy some in the crypto community. The Winklevoss twins assertion that crypto desperately needs regulation to matter seems to be the anti-thesis of the foundation of Bitcoin itself. Still, they continue undeterred and focused on bringing their message to a larger and larger audience.
Since launching their regulated US cryptocurrency exchange and trading platform Gemini, the Winklevoss twins have staked huge amounts on Bitcoin’s success, despite opening up trading of larger market cap altcoins. This puts their campaign under a microscope and into some perspective.
Their thesis, in an interview earlier this week, is that Bitcoin most closely resembles gold. Going so far as to say that “bitcoin is better at being gold than gold. Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”
Whatever your reaction happens to be to their ‘crypto is better when it is regulated’ campaign – the Winklevoss twins hold enormous influence within the crypto space. Their Gemini exchange is a leader in OTC volume and people listen when they speak. Thousands attended their Reddit AMA and headlines were made.
Very few in the crypto ecosystem carry that kind of influence. The question one might ask, though, is this – does their influence push Bitcoin and crypto in the right or wrong direction? Is regulation really the answer?
Whether they are right or wrong could either position them to gobble up market share or leave them chasing for what may remain. Interesting nonetheless.