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The billionaires Winklevoss’s Cameron and Tyler are exceptionally very bullish on the Bitcoin situation despite seeing a market crash that shook Bitcoin to its core. They have been the proponents of Bitcoin for some time now and have amassed themselves a pretty intensive stash of the cryptocurrency too.
They are the real-time investors in the cryptocurrency after co-founding a social network and then later accusing Zuckerberg of stealing their idea in the form of Facebook, which was a real scandal back in the day. They were extremely early to get into the crypto business as soon as Bitcoin got launched and were the key figures at the 2021 Bitcoin conference that was held in Miami.
The last December, Tyler said that Bitcoin could literally go past the moon directly towards Mars if Elon Musk could invest in it, and then several months later, Tesla did own about $1.5 billion worth of Bitcoin. Only the last month, when Elon Musk gave a pretty intensive speech on how mining practices of Bitcoin are putting the environment at risk every passing day.
Elon Musk and the Recent Crypto Crash
As the mining of Bitcoin involves some pretty heavy usage of the fossil fuels such as coal, that increases the carbon footprint within the environment, and thus the whole thing ended up being a pure disaster. Musk announced that he would be cutting all the ties with Bitcoin until it has upped its game, and that sent the whole crypto market tumbling down an imminent crash.
Later Musk did receive some criticism from the Bitcoin proponents, and the idea was proposed that no one should have that much influence on the crypto market, and it is true as Musk pretty much used to increase or decrease activity in the crypto market with the help of his tweets.
Now, as for the Winklevoss twins, they were among those who accused Musk of playing his own hidden game with Bitcoin and the crypto market in general, and Bitcoin has been struggling ever since then, trying to get past $40k. Winklevoss twins are of the idea that Bitcoin, despite all the bearish approach, will soar again and is literally gold 2.0, and they will be holding onto their stash until it is above $500k per coin.