One of the Winklevoss twins who challenged Mark Zuckerberg in lawsuit for intellectual ownership of Facebook, tweeted Sunday, encouraging today’s people to put their money in Bitcoin currency.
Cameron Winklevoss and his brother were the first ones to make a billion out of Bitcoin investments when the digital currency’s value spiked in 2019.
Fred Wilson, an investor, also pointed out differences between Bitcoin and Amazon.When Bitcoin value went down to around $4,000, he spoke:
“So while crypto asset prices are down 80-95% in USD terms over the last year, they could and probably will go lower. Amazon was down 80% a year into the post-bubble bear market and it got cut in half again before it made a bottom almost two years after it peaked.”
Perceptions on Bitcoin investments are yet to be considered as legitimate, and its real context is still yet to be defined. While there may be some that perceive it as a real stock market of real value, others still view it as some sort of luxury asset with great risks that entail.
Investors did not have much faith in the longevity of online stocks back in the 20th century. Amazon stocks dramatically dropped to $6 from $90 in early 2000s, then began gradual recovery. Since Bitcoin is still a starting market, chances are, its rise and fall behavior will resemble that of Amazon’s.
Based on Wilson’s words, Amazon only started peaking its prices around 2007. In the early 2000s, Amazon shares were valued at only $6. Looking back and comparing that history to now, it’s unbelievable.
In the last days of June, Bitcoin prices went from $8,800 to $11,900 in a matter of four days.
Grayscale, a crypto-asset manager, welcomed its nearly one billion worth of interest, which then sparked a surge in Bitcoin demand.
"Many of our investors view digital assets as a medium to long-term investment opportunity and a core component of their investment portfolios,” says Grayscale.
Eleven years since birth, Bitcoin is still building its legitimacy in the online stock world. But with the constant improvement in its performance as a real investment store and safeguard asset, Bitcoin has a high chance of proving its worth and building its reputation.