The Winklevoss twins said Bill Gates to put your money where your mouth is. The statement is in response to Gates comments on shorting Bitcoin.
In an interview with CNBC’s squawk on Monday, Bill Gates, the Microsoft founder said that if there was an easy way he would short Bitcoin.
“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” he said. “I agree I would short if there was an easy way to do it”.
Meanwhile, Bill Gates was asked whether he owns Bitcoin, he replied, “once someone has given birthday gift and he sold it after few years”. Later on he continues telling that,” Bitcoin and ICOs, I believe completely they’re some of the crazier, speculative things”.
In Response to the comments, Tyler Winklevoss, the billionaire and founder Gemini crypto exchange, challenges Gates Twitter saying,
“There is an easy way to short bitcoin, you can short #XTB, the CBOE Bitcoin Futures contract, and put your money where your mouth is”.
Winklevoss explains Bill Gates how easy it is to short Bitcoin since the CBOE futures product has launched in last December. Therefore, it allows investors to bet on the future bitcoin price. Remarkably, bitcoin price had reached $20,000 at time of launch of futures.
Twins suggests Gates to research to know that there are other options like CME products as well as many other crypto exchanges.
Further, the Winklevoss twins, also mentioned Warren Buffets, Berkshire Hathaway CEO. Another Bitcoin hater is expecting Bitcoin to come to “bad ending”. He believed that Bitcoin is pure speculative asset and has no plans to short it anytime. But he would be happy to buy a less risky derivative to hedge against a potential fall in Bitcoin.
At the press, Bitcoin was trading at $9,135.04, according to Coinmarketcap.