A year after presenting at the Value Investor's Congress (VIC), Winklevoss Capital releases its primer on Bitcoin and provides an updated view on the Bitcoin ecosystem.
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A year later Winkevoss Capital releases its Bitcoin presentation
Our goal was to educate these investors on the origins of Bitcoin, the powerful implications of the protocol (decentralized, open-source, peer-to-peer) and its investment use-case as a long-term store of value. On the day of our presentation the price of Bitcoin was $132.27. Yesterday at 4pm EDT the price was $432.26. I generally don’t like to talk about price too much (admittedly breaking my own rule here), and as I’ve stated in my Reddit AMA. Most days I don’t check it at all, but in the context of this presentation and using the granularity of a year, I think it’s a reasonably worthy exercise. Rome wasn’t built in a day, and Bitcoin won’t be either, but I still feel very bullish about its long-term value both as a technology and an investment. Despite all the ups and downs of the past year, including the Silk Road bust (15 days after our presentation); a November price run above $1000 (which has since been called into question by the possible discovery of trading bots on Mt.Gox); the collapse of Mt.Gox in February 2014; pending regulation (most notably from the New York Department of Financial Services); and Paypal’s announcement yesterday to start integrating Bitcoin, the price is ~3-4x higher today.
