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Tyler Winklevoss, cofounder of Gemini, has restated his belief that the Bitcoin price could reach $1 million in the next 5-10 years. He spoke while announcing Cypherpunk, a new company focused on privacy and digital ownership, backed by over $50 million from Winklevoss Capital.
Bitcoin price and long-term outlook
In a recent post on social media, Tyler Winklevoss said he still expects Bitcoin to hit seven figures in the next few years.
He described the coin as digital gold, a secure store of value in a world where privacy is fading. He believes Bitcoin’s fixed supply and independence from central banks make it a strong hedge against inflation and government control.
Furthermore, Cypherpunk was launched to invest in technologies that protect privacy and personal freedom. Tyler Winklevoss said privacy is where true freedom begins and warned that it is becoming rare as most activities move online. His statement links Bitcoin’s rise to the broader demand for financial independence.
In line with the current update, Charles Guillemet, Chief Technology Officer at Ledger, also commented on security concerns. He said quantum computers are not close to breaking Bitcoin’s cryptography, easing fears about its safety and long-term price outlook.
The Bitcoin price is currently trading at $103,990.65, and many are keeping an eye on short-term Bitcoin price zones around $111,000 and $116,000. This is where the BTC movement could trigger higher volatility.
Still, long-term investors are focused on Winklevoss’s projection and see it as a sign of renewed confidence in Bitcoin.
Zcash and privacy drive
It is important to add that while explaining Cypherpunk’s goals, Winklevoss said Zcash would be a key part of the company’s plan.
Cypherpunk has already bought about 203,775 ZEC at an average price of $245 each, about 1.25% of Zcash’s total supply. The company aims to raise that figure to at least 5% in the coming months.
He said Zcash, like Bitcoin, has a total supply of 21 million coins but offers private transactions. In his words, if Bitcoin is digital gold, then Zcash is digital cash. The two, he said, work together, and while one stores value, the other moves it privately.
It is important to add that Arthur Hayes, former BitMEX CEO, shared his own thoughts on Zcash, saying its price could either jump to $10,000 or fall to $10, depending on how the market values privacy coins.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team