Winklevoss-Bryce-Pomp-Capital University

Capital University | What is Bitcoin? With Tyler and Cameron Winklevoss

Check out Capital University Podcast Episode Page

Key Takeaways

  • Starting and owning companies with conviction is the way to build generational wealth, not by diversifying and playing it safe
  • Bitcoin is the first money built for the Internet, and it’s decentralized
    • To take it down, you have to stop the entire Internet
  • A Bitcoin price prediction of $500K/bitcoin is a conservative estimate
    • That said, it’s a long term bet, buy it with a 10 year time horizon
  • You hold 1 bitcoin and you know there will only be 21 million bitcoins
    • Remember that you can own a fraction of a bitcoin


  • Cameron Winklevoss (@winklevoss) and Tyler Winklevoss (@tylerwinklevoss) are venture investors, Olympic rowers, the founders of Gemini Cryptocurrency exchange
    • Check out the Podcast Notes from their appearance on The What Bitcoin Did Podcast
  • Anthony “Pomp” Pompliano (@APompliano) is a Co-founder at Morgan Creek Digital and host of The Pomp Podcast
  • Bryce Hall (@BryceHall) is the Co-founder of Ani Energy and a social media personality. Check out his Instagram and YouTube

Bitcoin in Ibiza

  • After being introduced to cryptocurrencies by a stranger in Ibiza, the twins quickly realized this is the next big thing
  • Bitcoin is the first money that is built for the internet
    • Think of it as Gold 2.0; it’s superior to gold in all the properties that make gold valuable
      • For instance, whereas gold is scarce but not fixed, Bitcoin’s supply is fixed

Conviction is Key

  • Bitcoin is decentralized money, you have to stop the entire internet to take it down
    • “We didn’t see how this thing wouldn’t work and if it did work it was gonna be really big” – Tyler Winklevoss
      • Thus, the twins ended up buying 1% of the supply
  • Wealth is built by people who have conviction in companies they start and own (e.g. Mark Zuckerberg, Jeff Bezos, etc.)
    • You don’t make generational wealth by playing it safe or diversifying
  • “When you really have conviction in something, [like] a great idea, definitely going hard into it makes a lot of sense” – Tyler Winklevoss

The Case for $500K Bitcoin

  • Bitcoin could easily appreciate 40-50 times within the next decade, here is why
    • Institutional money is not yet in Bitcoin
    • If Bitcoin is going to disrupt gold, then it has to exceed gold’s market cap
      • Gold sits at $9Tr market cap, compared to Bitcoin’s $200Bn
  • “We actually think that’s like a conservative thing, it could be worth quite a bit more” – Cameron Winklevoss

Dollar Supply is Unlimited

  • The dollar is a medium of exchange that is being challenged by all the money printing, and it’s already mostly digital
    • “You hold the same amount of dollars but that supply keeps growing a lot bigger” – Winklevoss
    • By contrast, you hold 1 bitcoin and you know there will only be 21 million bitcoins
      • Remember that you can own a fraction of a bitcoin
  • Historically, people protect themselves against inflation by buying assets such as gold, except Bitcoin now offers a superior alternative

How Young People Should Approach Investing in Bitcoin

  • Bitcoin is hard money that protects you against inflation and political and economic events
    • It’s a long term bet, not a day trading thing, Buy it with a 10 year time horizon
    • “If you are patient, put an allocation into Bitcoin and it’s gonna be a great lifetime bet for you and most likely your children and next generations” – Winklevoss
  • Apart from Bitcoin, invest in technology companies whose products you use every day
    • These companies are probably well-positioned to change and stay ahead of the curve


  • Bitcoin is a stepping stone into the larger cryptocurrency universe
    • Crypto is the future, a movement, technology, and philosophy around decentralization, and there is so much to learn and do
    • Get some skin in the game, then start learning more about the space
  • “I think the biggest risk is doing nothing at all” – Cameron Winklevoss
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Notes By Mostafa Khaled

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