During an interview with the Telegraph, the Winklevoss twins expressed their view on the impact of Facebookcoin on the the Crypto Industry. In their opinion the Winklevoss Twins Believe that Facebook coin will have positive impact on the Crypto Industry.
The Twins has a popular and interesting history with Facebook, having sued Mark Zuckerberg for stealing their idea for Facebook. The issue was later settled between Mark and the twins for $20 million and $45 million in Facebook shares. They fruitfully utilized that money to fund their crypto ventures, making them one of the early adopters of Bitcoin (BTC) and among the first bitcoin billionaires in the world.
Now, Mark their former rival has entered the Crypto race, working to launch a Facebook-branded stablecoin in the industry. Surprisingly, rather than bad mouthing Mark’s new venture, the Winklevoss Twins seems to welcome it with open arms.
During the interview, Tyler stated that Zuckerberg entering the same market was “cool” followed by Cameron adding that it was “really positive” that Facebook might launch a cryptocurrency.
It is worth noting that these Twins are the founders and owners of the American Crypto exchange, Gemini. Talking about their own business in the interview, the Winklevoss Twins was of the opinion that Gemini could be as successful as Amazon, analogizing the rise of the marketplace with their own exchange:
“In the first 10 years, a lot of people were like ‘Amazon isn’t competing with Barnes and Noble’. But we know how that played out. Cryptocurrency is so young, we are only a couple of years into this journey,” said Cameron.
The Facebookcoin is believed to be launched between the second and third quarters of 2019. It could be used by Facebook users to initiate and complete micro payments on the platform. Other uses of the proposed Facebook stablecoin will follow once it is launched. This is a positive development for the entire industry as such will expose cryptocurrency to new users and increase adoption.
Note: Opinion expressed in this article is not a financial advice. Investment in cryptocurrency is very risky and as such you are advised to do proper research before making your decisions since mntrends will not be held responsible for any loss resulting from it.