Somehow Gemini’s President Cameron doesn’t see the underperformance in cryptocurrency market. He is more into developing new products and expanding the cryptocurrency related operations across the borders. Winklevoss told CNBC about his firm belief on cryptocurrency being Gold2.0 and that he vision it as trillion-dollar asset over time. Gemini currently support a number of cryptocurrency like Bitcoin, Bitcoin cash, Ether, Zcash and upcoming Litecoin.
Gemini is a New York based cryptocurrency exchange founded by two brothers Tyler and Cameron. They recently hire New York Stock Exchange chief information officer Robert Cornish to Gemini.
Gemini President Cameron Winklevoss told CNBC in an interview that they hire Cornish to help them to build out cryptocurrency platform. He is also looking to expand the range of products Gemini is offering right now with the help of bring some new huge investment clients like hedge funds. Gemini currently supports popular crypto currencies like Bitcoin, Bitcoin cash, either but are ambitious about more products.
The big question is – why big investors would even think about investing fortune in cryptocurrency especially Bitcoin and other digital currencies are underperforming in 2018. There is also some hype regarding crypto-hacks, phony initial coin offerings, and stolen digital wallets. It has hurt some investors in long run and Bitcoin is currently sixty percent down from its December 2017.
Despite of current situation of digital currencies, Winklevoss is very much sure about what is aiming for. He says “Our belief and thesis have stayed the same. We have conviction and we keep pointing towards the north star and our goal. The early Bitcoin belive on his vision and support him despite of the noise around the future of crypto currencies. Winlevoss admitted that, “It’s been arguably a slower couple of months in terms of trading, but at Gemini it’s one of the busiest months of our existence as we scale and build. Certainly there is going to be people in the market that loses their interest. That is what it is.
Winklevoss’ comments come as the bull vs. bear fight over the future of cryptocurrency intensifies. Fundstrat’s Tom Lee still sees bitcoin soaring by the end of the year. At the same time, some of Wall Street’s veterans, such as Berkshire Hathway’s Warren Buffett, Charlie Munger and JP Morgan CEO Jamie Dimon, remain overtly cautious.
Meanwhile, the SEC has placed more focus toward crypto currencies. Analysts say strong warnings from regulators has cause some drop but over time, regularity would provide the clarity the industry needs right now.