Bitcoin billionaire Cameron Winklevoss says gold could be the next GameStop


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“Silver squeeze” has a nice sound. Could a “gold grab” be the next step? Last week, in an unprecedented stock market coup, members of the Reddit group Wall Street Bets conspired to beat hedge funds in their own ‘short squeeze’ game, pushing GameStop shares up further. by 200%. Now, some of the same Reddit investors are buying shares of silver mining companies, pushing the price of silver 11% to $ 30 per share (as of Monday morning), the highest since 2013.

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If Redditors pull off a “cash greenhouse,” there is speculation about the next market. Bitcoin investor and entrepreneur Cameron Winklevoss – who rose to fame with his twin brother Tyler Winklevoss when they won $ 65 million in a lawsuit against their Harvard classmate Mark Zuckerberg – claiming he stole their idea for Facebook – took to Twitter on Jan.31 to reflect on the implications.

Investing in gold stocks has always been considered a safe hedge against stock market volatility. The United States has the largest reserve of gold in the world, but if the current (all-time-high) gold price were to undergo a short compression, it would indeed have a massive effect on world markets.

As a big Bitcoin investor, it’s no surprise that Winklevoss is rooting against the mainstays of the market. He and his brother invested $ 11 million of their $ 65 million Facebook payout into Bitcoin in 2013, and when the cryptocurrency’s shares soared last December, they have become billionaires.

In case you weren’t convinced the Winklevoss twins were in all of this, they also just signed as executive producers for an MGM film about the GameStop fiasco, which will be based on a yet to be written book by Ben Mezrich, author of The social network. The provisional title of his GameStop tome? The anti-social network.

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