The Winklevii: Bitcoin seen as gold 2.0, tech play

Cameron and Tyler Winkelvoss told CNBC on Tuesday that they view their big investment in bitcoin as a gold-type play and a bet on the technology behind the virtual currency.

“Some people definitely view it as gold 2.0. And then there’s the technology aspect of just the idea that payments are increasingly going to use a network like the bitcoin network to move money around the world,” Cameron Winkelvoss said in a “Squawk Box” interview.

The twins, who famously battled Mark Zuckerberg over the origins of Facebook, brought $11 million worth of bitcoin in April, when the virtual currency hit record highs of $266. It then plummeted.

Bitcoin is surging into record territory again Tuesday, hitting $385 in early trading on Mt. Gox, one of the many bitcoin exchanges.

The Winkelvii, as they’re known, want to create a bitcoin exchange traded fund (ETF), accessible to all investors. “We filed an amended S-1 in October. And we’re just still going their the process,” Tyler Winkelvoss said.

Leave a Reply