The past few days has caused the world to question the potential of Bitcoin (BTC), generating criticism and skepticism. However, Tyler Winklevoss remains optimistic and ensures that BTC “will emerge stronger than ever.”
The Coronavirus managed to generate panic in the financial markets and in the crypto world, pushing the value of Bitcoin to significant losses, until it reached the minimum of $ 3,600 USD. And although BTC has managed to recover, the environment in the markets remains bearish.
However, perhaps we have harshly judged Bitcoin for a losing streak.
Is Bitcoin a true refuge?
Recall that Bitcoin was born after the catastrophic financial crisis, being a decentralized alternative that would allow it to take refuge from the bad policies of governments and institutions.
Since then, BTC has had to build its way little by little, facing various adversities and re-emerging from them.
In this way, Tyler Winklevoss, co-founder and CEO of Gemini, pointed out that, after all the battles fought, we should not judge BTC by recent events.
“Bitcoin was born in 2008, during the winter of our financial discontent. He has managed to resist a lot to get this far, and it seems unlikely that he is about to give up. You will get out of this current calamity and be stronger than ever. We cannot measure decades in days “Tyler Winklevoss expressed through your Twitter account.
Likewise, his brother, Cameron Winklevoss, showed support for the opinion shared on social networks by Tyler.
Panic has led people to liquidate their positions and to believe that Bitcoin is no longer a safe haven. However, the drop in BTC, like the traditional financial markets, was to be expected.
Furthermore, Tyler Winklevoss published that “If Bitcoin is not Gold 2.0, then what is it? The fact that it is not acting as might be expected only underlines how early it is“
Bitcoin had not had to face a situation like the one the world is currently facing, however, it will rise from the ashes and be much stronger.
Are few who believe?
The Winklevoss brothers are not alone, Edward Snowden also expressed his support for the cryptocurrency yesterday.
It is worth remembering that Edward Snowden is widely known for proving that the United States National Security Agency (NSA) was illegally spying on people. So it is precisely because of this that the decentralized technology of Bitcoin attracts Snowden.
Bitcoin still has a long way to go and potential to demonstrate, we should not judge it by the recent events that have affected even the financial markets.