Speaking during the Singapore Fintech Festival 2020 on Dec. 7, pioneering Bitcoin (BTC) investors Cameron and Tyler Winklevoss reaffirmed previous forecasts that Bitcoin's price will eventually exceed prices of $500,000 per Bitcoin.

The twins noted that their $500,000 prediction is predicated on the assumption that Bitcoin's market cap will increment past 40 times to surpass gilt's roughly $ix trillion marketplace cap in the future.

Cameron pointed to the "tremendous amount of money-printing going on" in debt and fiat regimes, and concerns surrounding inflation every bit driving up demand for "hard assets" like gold and Bitcoin.

Cameron states that Bitcoin offers significant advantages over gold as a monetary article, such as its ease of transfer and immunity to external forces influencing the charge per unit of its product.

Despite their bullish outlook, the twins noted that the crypto sector has seen starkly uneven geographical advancement, with a lack of regulatory clarity hindering the growth of business and services around the technology in many emerging economies.

However, they noted the technology's promise of banking the earth's unbanked, noting a plan to expand their exchange Gemini into emerging regions.

The pair advocated that lawmakers utilize regulatory sandboxes to reduce the barriers faced by startups working with crypto, alert that heavy-handed regulatory requirements could stifle innovation. Cameron stated:

"Apple tree started in a garage in Silicon Valley, I think Facebook started in a dorm room [...] you have to be careful that overhead is not and then large that a lot of people tin't innovate in this infinite."

Tyler also dismissed the crypto community's "provocative rhetoric" regarding Bitcoin's potential to render the legacy sector obsolete, asserting that the crypto manufacture's growth is contingent on collaboration with banks:

"If people want to buy Bitcoin, their value right is commonly not in crypto because crypto is new. And then yous have to build a span between bands and this new world of crypto and yous need banks to do that."

Despite Bitcoin's tremendous year, Cameron predicts the sector "is nonetheless only beginning." Tyler urged people to educate themselves regarding Bitcoin, stating:

"Pay attention to Bitcoin and crypto and educate yourself, because this is the greatest money and technological revolution since the Internet itself. It's not a fad, information technology's here to stay — and it will transform money, the Internet and so much of the world around you. And information technology's only starting."