Gemini co-founder and Bitcoin billionaire Cameron Winklevoss says the current price of Ethereum is not reflected in the market price. Also, Cameron Winklevoss says the burgeoning decentralized finance (DeFi) market is now in its infancy.
Cameron Winklevoss: Ethereum price is not reflected in the market price!
In a recent interview, Cameron Winkelvoss compares Ethereum to an operating system such as iOS or Windows. Cameron Winkelvoss adds the following to his explanations on the subject:
Putting a ceiling or framework on creativity is really a pain and what it means…. So how do you value that? I can tell you that ETH is at $1,600 today, but the all-time high was breached a day or two ago and reached that level three years ago. Continued improvement in business measure and maturity has taken place over the past three years. You’re basically looking at Ethereum at an all-time high, where it’s currently feeling undervalued. Bitcoin is close to double its all-time high value compared to three years ago. That’s why we think it’s so expensive out there, and we love the endless possibilities and nature.
Cameron Winkelvoss: Some altcoin projects will fail wonderfully and others will be incredibly successful
Looking at DeFi, the crypto giant confirms that he and his twin brother Tyler are fully supportive of the emerging market. According to them, DeFi is just getting started. Cameron Winkelvoss adds the following to his explanations on the subject:
We are definitely professional DeFi. We’ve listed dozens of DeFi altcoins on Gemini, very supportive indeed. There is risk… Not the most user-friendly experience. There is risk at all… Some altcoin projects will fail wonderfully and some will be incredibly successful. This is new and should be a medical lens with which you approach it.
Cameron Winklevoss: DeFi doesn’t need to compete with Bitcoin!
Contrary to the views of many Bitcoin maximalists, Cameron Winklevoss thinks that DeFi need not compete with Bitcoin as they serve different purposes in the crypto department. Cameron Winkelvoss adds the following to his comments on the bet:
I think the basic start of what happened is as a matter of fact and does not compete with Bitcoin. It’s one of the big things and unfortunately you see people being ‘maxis’ or maximalist and they’re like ‘Only Bitcoin’ or ‘Only Ethereum’ or ‘Only what token’. But it doesn’t have to be that way, because they solve completely different things… The world’s most beautiful gymnasts look very different from the world’s best bodybuilder. Both are amazing at what they do, but a gymnast cannot be an outstanding bodybuilder and the opposite is… They do things differently and there is room for a few great projects.