The Winklevoss twins claim "If you can’t see bitcoin at $320,000, you just lack imagination."

“Cryptocurrencies aren’t really important for human-to-human transactions... but when machines-to-machines trade economic value, they are going to plug into protocols like bitcoin and ethereum,” he explained to CNBC. “

His brother, Cameron, says bitcoin will one day be worth 40 times today’s price, which is currently just over $8,000, thanks to a double-digit rally.

“We believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity,” Cameron said. “Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. It's sort of equals a better gold across the board. We think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.”

Neither Cameron nor his brother put a specific timeline on the prediction during the chat, but they did say they’re taking the 10-to-20 year view.

The Winklevoss twins were hailed as the first crypto billionaires, after riding the hype and creating an exchange that processes $300 million in daily transactions. The brothers are currently No. 4 on the Forbes list of wealthiest players in the space, behind the Binance CEO Changpeng Zhao.

Bitcoin a "Better Gold"

What a hoot. As long as we are imagining things, let your imagination feast on this: Bitcoin and All Existing Cryptocurrencies Headed to Zero.

These fanatics seem to have unidirectional imagination. I offer a pair of musical tributes.

Just My Imagination

Lookin' Out My Back Door

​Just got home from Illinois lock the front door oh boy!
Got to sit down take a rest on the porch.
Imagination sets in pretty soon I'm singin'
Doo doo doo lookin' out my back door.
There's a giant doing cartwheels, a statue wearin' high heels.
Look at all the happy creatures dancing on the lawn.
A dinosaur Victrola list'ning to Buck Owens.
Doo doo doo lookin' out my back door.
Tambourines and elephants are playing in the band.
Won't you take a ride on the flyin' spoon?
Doo doo doo.
Wond'rous apparition provided by magician.
Doo doo doo lookin' out my back door.

Now that's imagination.

Mike "Mish" Shedlock