Bitcoin purchases by central banks and sovereign funds is inevitable, Tyler Winklevoss says

The pair alleged that he stole their idea to create Facebook and the case was settled in 2008, with the twins reportedly receiving $65 million in cash and Facebook shares.

The Winklevoss twins first invested in Bitcoin through the Mt Gox exchange in Japan in 2012.

You’re going to see the Fortune 100, 500, 1,000 – they’re all going to have Bitcoin,” Mr Winklevoss said.

The huge monetary stimulus undertaken by the US Federal Reserve and other central banks around the world is also convincing people who were sceptical about cryptocurrency in the past to embrace it, he argued.

Bitcoin rose to $57,551.41 at 6.33pm UAE time on the Luxembourg-based Bitstamp exchange on Saturday.

Regulators in many countries have expressed concerns, though, with Turkey’s government introducing a ban on using cryptocurrencies for payment.

“Some of the biggest pension funds we are talking to would come back and make us absolutely swear to secrecy if we were managing a portfolio for them because they still consider there’s a tail risk in terms of if something dramatic .

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