The fact that the U.S. has not agreed on the Coronavirus stimulus shows that the dollar is „fun money“ and favors Bitcoin (BTC), says Cameron Winklevoss.
In an August 6 tweet, exchange co-founder Gemini delivered a damning assessment of the lack of progress in Washington in delivering more financial aid.
Someone transferred $1 billion in Bitcoin for less than $5
A „wake-up call and approval for Bitcoin“
Talks between Democrats and Republicans were „on the verge of collapse,“ CNN reported Friday, as the totals of stimulus desired by both sides differed by several trillion dollars.
For Winklevoss, the idea that politicians could plan for the same goal with widely varying amounts of money said more about the value of the dollar than their differences.
„The dollar has become such a funny money that politicians are now ‚trillions of dollars away‘ in the stimulus negotiations. Remember when a billion was a big number?“ he wrote.
„If this isn’t a wake-up call and an endorsement for Bitcoin, I don’t know what is.“
Pantera founder predicts Bitcoin will be worth more than $100,000 in the future
Their comments come when the weakness of the dollar translates into a race by investors to safe havens, and both Bitcoin and precious metals make significant gains.
Meanwhile, brother Tyler Winklevoss has spoken out on the news that Goldman Sachs, historically risk-averse at Bitcoin, has hired a digital asset manager.
„Goldman Sachs is now inside Bitcoin. What a face since their ‚Don’t Buy Bitcoin‘ report published 3 months ago in May,“ he said.
As Cointelegraph reported, the trend could continue if the Federal Reserve enacts measures to raise inflation from 0.6% to 2-4%, something that would be „wildly bullish“ for gold at least, one analyst said this week.