A renowned Sports analyst and founder of Barstool Sports, Dave Portnoy, in a recent meeting with the Winklevoss twins, discussed contemporary issues relating to Bitcoin with the Winklevoss brothers, who took their time to give a detailed explanation of what Bitcoin is all about and its potentiality.
The Twins who also doubles as the co-founders of a next-generation cryptocurrency exchange, Gemini, issued out a note of warning about gold, they pointed out that Gold has a limited supply even though it’s being regarded as the rare and precious metal.
Bitcoin Likely to Outshine Gold Soon
Comparing Bitcoin (BTC) with gold the Winklevii explained that BTC as a form of digital gold is more superior to the real world gold because Bitcoin has a total number of coins that could ever be in circulation hard-capped at 21 million.
They further emphasized that the introduction of space mining would likely diminish the value of gold, as there are billions of dollars worth of resources floating on asteroids around the earth, which billionaires such as the Tesla CEO, Elon Musk, will soon rise to begin to mine.
This mining, according to the twins, will increase the number of gold in circulation and thereby reduce its value. Elon Musk had in February won a $117 Million NASA contract to begin the exploration of a gigantic mineral-rich asteroid identified as Psyche 16 located between the orbit of Mars and Jupiter, the asteroid is estimated to contain over $8Qnl worth of gold and other resources. The exploration contract won by Musk is scheduled to kick start in the year 2022.
Portnoy Invests $250,000 into Bitcoin
The Barstool boss after listening to the explanations from the Winklevoss brothers, went on to deposit a sum of $250,000 into their Gemini cryptocurrency exchange to get it converted to BTC, he also invested another $50,000 into the fifth largest cryptocurrency, Chainlink (LINK).
Nonetheless, Dave also related the idea of launching his own token which he proposed will be called “Dave Coin” and the Winklevoss brothers promised to get him connected with programmers that could help him out.