Winklevoss Brothers Aren't Worried About Bitcoin's Plunge

The video discusses Bitcoin's price volatility, comparing it to gold and exploring the impact of futures contracts on price discovery. It highlights the challenges of building business plans around volatile assets and the importance of securing Bitcoin investments. The speakers express a long-term investment perspective, emphasizing their belief in Bitcoin's potential to disrupt gold as a store of value.

What is one reason for the volatility in Bitcoin's price according to the discussion?

• The absence of futures contracts

• The introduction of a new global asset class

• The lack of interest from new investors

• The stability of traditional currencies

How does the introduction of a futures contract affect the Bitcoin market?

• It allows for shorting Bitcoin, adding to price discovery

• It eliminates the need for price discovery

• It decreases the number of market participants

• It creates a one-sided market

In what way is Bitcoin compared to gold in the discussion?

• Bitcoin is considered to have similar or superior characteristics to gold

• Bitcoin has a larger market cap than gold

• Bitcoin is less valuable than gold

• Bitcoin is more stable than gold

What security measure was initially used to protect Bitcoin investments?

• Storing private keys in a single vault

• Relying on third-party security services

• Cutting up private keys and dispersing them in vaults

• Using a digital-only storage system

What is the investment strategy of the speakers regarding Bitcoin?

• They frequently trade based on daily price changes

• They focus on short-term gains

• They have divested from Bitcoin due to its volatility

• They are long-term investors, not concerned with daily price fluctuations