+1 to that statement
"Whatever you think of the Winklevii, they have more skin in this game than anyone and have no choice but to try and make Bitcoin a wild success."
Topic: Winklevoss Bitcoin Trust May Put Bitcoin on Wall St. (Read 1182 times)
Good luck to them.. hope they achieve something for the good of the community/bitcoin adoption.
Beside that it'll give bitcoin a great boost in many ways i think it'll also mean that their business (stock) will dictate sooner or later the exchange price of bitcoin. BTC/USD and from there any other combination building on it. So companies like mtgox and others will use that price instead of the status quo.
This is incredibly exciting. The biggest hurdle I see with Bitcoin is the difficulty with purchasing them. This will allow every wall street investor to invest in Bitcoins, as well as allow you to purchase with your 401k, retirement fund etc.
If nothing else, we will get some good exposure!
If nothing else, we will get some good exposure!
If they really hold that many BTC and their Form S-1 gets declined then they might sell their BTC and the price goes down to less than $40 per BTC...
If they really own 1% of all bitcoins, they would wipe out the order book completely if they tried to sell. It would be stupid for them to try to even liquidate a fraction of it - the price drop on their remaining coins would erase any sale profit by an order of magnitude. Whatever you think of the Winklevii, they have more skin in this game than anyone and have no choice but to try and make Bitcoin a wild success.
If they really hold that many BTC and their Form S-1 gets declined then they might sell their BTC and the price goes down to less than $40 per BTC...
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