January 24, 2021

Cryptheory

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Breaking news: Gemini Trust Co potentially going public?

2 min read

TL;DR Breakdown

  • Is this digital assets firm potentially going public?
  • Billionaire brothers Cameron and Tyler Winklevoss have noticed a surge in popularity with cryptocurrencies, expressed interest in going public.
  • BTC has been called the “door” to the world of cryptocurrency.

Cameron and Tyler Winklevoss, billionaires and magnates in the Bitcoin industry, have freshly released a statement saying that they are taking into consideration the possibility of taking Gemini Trust Co. public due to the sudden explosion in interest for cryptocurrencies.

Cameron Winklevoss, Co-founder of the New-York digital firm, has stated this shocking fact during an interview, openly admitting that the possibility isn’t so far-fetched due to how popular cryptocurrencies are becoming once again. Here is what it means. 

Gemini

BTC went from a speculative trade to a sound investment

Over the past four years, BTC went from a speculative trade to a sound investment, quadrupling in value and generating what can only be defined as a “cryptomania”. Although highly volatile and a must-have in the portfolio of any risk-takers, Bitcoin’s popularity might be the direct cause for the popularity of lesser-known currencies, such as Ethereum and Litecoin.

The Gemini Trust Co.’s IPO is a significant event for anyone interested in Bitcoin. The brothers who sued Mark Zuckerberg for stealing ideas offer an exchange and a custody service, including a debit card, specialized in Bitcoin functionalities: On top of working like any other debit card, this would offer 3% cashback in BTC or any other cryptocurrencies. Ironically, this would potentially mean that investors could be making more money the more they spend on everyday things such as food, leisure activities, or others.

Gemini Trust Co. going public, a new exciting opportunity

“Cash is trash” tweeted Mr. Winklevoss, referencing a theory in which inflation is bound to destroy the US dollar. The Winklevoss twins were the first to offer an ETF based on crypto in 2017. However, this proposal was then refused due to how new the market was, and of course, the lack of regulatory oversight also took part in this decision.

However, with the possibility of Gemini Trust Co. going public, a new exciting opportunity might soon be reality: The possibility of making BTC by spending money.

Additionally, the Winklevoss twins are still interested in offering a Bitcoin exchange-traded fund. They were rejected in 2017 when they first filed for a Bitcoin ETF with the SEC. That was attributed to the “immaturity of the crypto market and lack of regulatory oversight”. Is now the ripe time for a Bitcoin ETF?





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