The Winklevoss Brothers Explain Why Ethereum Has Good Prospects

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Brothers Cameron and Tyler Winklevoss, owners of large fortunes in bitcoin, are betting on the growth of the second largest cryptocurrency – Ethereum. They shared the rationale for their point of view on Twitter.

So, Cameron claims that the next generation platforms will be based on Ethereum, and use the Filecoin distributed network to store data.

The next generation platforms will be built on Ethereum and store data on the @Filecoin network. Services will be paid for in $ ETH and $ FIL and as demand increases, so will the value of these tokens. These are the fundamental building blocks of the decentralized web or web3.0

— Cameron Winklevoss (@cameron) January 13, 2021

 

“Services will receive payment in ETH and FIL as demand and value of the respective tokens increase. These are the fundamental building blocks of a decentralized web or Web 3.0, ”he wrote.

 

Tyler supported his brother:

#Bitcoin is gold 2.0. Ether $ ETH is decentralized Amazon cloud computing. @Filecoin $ FIL is decentralized Amazon cloud storage. Zcash $ZEC is decentralized, private money. $ DAI is a decentralized stablecoin. All of the pieces of the decentralization movement are coming together.

— Tyler Winklevoss (@tyler) January 12, 2021

 

“Bitcoin is Gold 2.0. Ether is a decentralized analogue of Amazon’s cloud computing service. Filecoin is Amazon’s decentralized cloud storage. Zcash is decentralized, private money. DAI is a decentralized stablecoin. All elements of the decentralized movement come together. ”

 

All of these assets are listed on the Gemini exchange founded by the brothers. It is known that in 2013 the Winklevoss invested $ 11 million in bitcoin, having bought about 1% of the available cryptocurrency coins. Over time, they became more circumspect and no longer reveal specific numbers. However, the brothers admit they are investing in Ethereum.

 

“We definitely have a lot of airtime. This is a large, significant amount. Yes, large enough. A couple of years ago, we took targeted action to buy a lot of Ether, ”Cameron said last year, adding that their ETH investments are“ in the same galaxy ”as their Bitcoin investments.

 

Billionaire Mark Cuban also recently showed an understanding of the current problems of the Ethereum ecosystem by complaining about the cost of transferring funds to the DeFi Aave protocol.

 

“I don’t think people understand, but I’m trying to experiment and use all these things and have been doing this for several years. I still have cryptocurrency from the early days of Coinbase. I have never sold anything, ”he added.

 

ETH has been trading above $ 1,000 over the past few days, after bouncing back from local highs of around $ 1,300 along with Bitcoin. At the same time, the cryptocurrency remains volatile, dropping to $ 900 and rising to $ 1,200.

Analyst Edward Morra pays attention on the fact that a figure appeared on the ETH chart, reminiscent of its behavior at the end of 2017, before climbing to historical highs. This happened after Bitcoin hit its own high of about $ 20,000 and went down.

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