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Billionaire Winklevoss: Not Owning Bitcoin “Worse” Than Not Buying Amazon In 2000s

Billionaire investor Cameron Winklevoss draws comparisons between Bitcoin and Amazon. AFP via Getty Images

Cameron Winklevoss, the co-founder of Gemini, believes not owning Bitcoin is a “worse decision” than not investing in Amazon. Since the early days, Amazon stock has increased from around $250 to $3,160.

Winklevoss said:

“Not owning Bitcoin today will be a worse investment decision than not investing in $APPL, $GOOG, $AMZN AMZN , and $MSFT in the early 2000's.”

Winklevoss is not the first high-profile investor to draw comparisons between Bitcoin and Amazon.

The monthly chart of Amazon stock. TradingView

In November 2018, when the price of Bitcoin dropped to the $4,000 region, venture capital investor Fred Wilson compared BTC to Amazon. He said:

“So while crypto asset prices are down 80-95% in USD terms over the last year, they could and probably will go lower. Amazon was down 80% a year into the post-bubble bear market and it got cut in half again before it made a bottom almost two years after it peaked.”

There is no real similarity between Bitcoin and stocks. The former is perceived as a newly emerging asset and its description is contested. Some view it as a store of value, others still see it as a risk-on asset.

But a common theme between the two assets is that in their respective times, they were considered outliers. 

In the early 2000s, following the tech bubble, the market was skeptical about the survivability of tech stocks.

After Amazon reached a top at $90, it dropped to as low as $6, before recovering. In the sense that Bitcoin is at an early stage of its development as an asset and technology, there is a similarity to Amazon.

Wilson said two years ago:

“Amazon peaked in the Internet bubble in late 1999 at around $90/share. Almost two years later, at the trough, you could briefly b...

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