Cameron Winklevoss: not owning Bitcoin is like not buying Amazon stock in the 2000s

Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, said that not owning Bitcoin today is a bigger investment mistake than not investing in tech companies in the early 2000s.

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Not owning #Bitcoin today will be a worse investment decision than not investing in $APPL, $GOOG, $AMZN, and $MSFT in the early 2000’s.

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— Cameron Winklevoss (@winklevoss) August 1, 2020

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On January 1, 2000, Amazon shares traded at $76 — today the stock price stands at around $3,165. The rise over 20 years has exceeded 4,000%.

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Winklevoss is not the first to compare Bitcoin with the tech giants Apple, Google, Microsoft or Amazon, whose market capitalisations have surged with the internet’s growth.

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Last autumn, Morgan Creek Capital Management CEO Mark Yusko called the cryptocurrency the next revolutionary technology. In his view, Bitcoin presented a more attractive investment opportunity than Amazon. He urged selling the latter. At the time they were trading at around $1,755.

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Earlier, while discussing cryptocurrency volatility, he noted that Amazon’s stock had endured double-digit drawdowns each year, twice falling 90%.

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In his view, Bitcoin could be in the $50,000–$100,000 range in 2020–2021.

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