Tyler Winklevoss, founder of major crypto exchange Gemini responded to Bill Gates’ recent anti-bitcoin comments. Bill Gates, the founder of Microsoft, during an interview with CNBC’s Squawk Box said he would bet against Bitcoin.
“Bitcoin and ICO’s, I believe completely [they’re some] of the crazier, speculative things,” the billionaire said.
“Somebody gave me some for my birthday then a few years later I thought hey, ‘hey I’m going to sell that.’ So, no.”
“I agree I would short it if there was an easy way to do it.”
In response, Winklevoss suggested Bill Gates how he can short the cryptocurrency.
“There is an easy way to do it,” he tweeted. “You can short #XBT, the CBOE Bitcoin (USD) Futures contract, and put your money where your mouth is!.”
Bitcoin Futures was launched in December 2017. It allows investors to bet on the future price of bitcoin. For instance, if a trader bets that bitcoin price would decline at a point months later, he will make money if the price drops at that certain time.
The futures market for Bitcoin has somewhat flourished since its launch with some 10,000 contracts for the front month trading on CBOE Global Markets, according to data provided by CBOE.
The Winklevoss twins, Tyler Winklevoss and Cameron Winklevoss are two of the early Bitcoin investors. They had $11 million in bitcoin in April 2013 when a single coin was valued at $120. At current Bitcoin value ($9,100), the combined Bitcoin holding of the Winklevoss twins is worth $834.17 million (if they haven’t sold any).
The brothers co-founded the cryptocurrency exchange Gemini in 2015, whose bitcoin price forms as the basis for CBOE’s bitcoin futures.