Winklevoss: US Dollar Is Now a 'Funny Money' Endorsement of Bitcoin

Published on by Cointele | Published on

The United States' failure to agree on Coronavirus stimulus shows that the dollar is "Funny money" and endorses Bitcoin, says Cameron Winklevoss.

A "Wake-up call and endorsement of Bitcoin".

"The US dollar has become such funny money that politicians are now 'trillions of dollars apart' in stimulus negotiations. Remember when a billion was a big number?" he wrote.

His comments come as USD weakness plays out in an investors' rush to safe-havens, with both Bitcoin and precious metals seeing significant gains.

Brother Tyler Winklevoss weighed in on the news that Goldman Sachs, historically risk-averse on Bitcoin, had hired a dedicated head of digital assets.

"Now Goldman Sachs is into Bitcoin. What an about face from their 'Don't Buy Bitcoin' Report issued 3 months ago in May," he commented.

Pal: Bitcoin beats gold in face of G4 money printing.

Regardless of the stimulus deal reached by the government, the expansion of the money supply and artificial shoring up of markets will inevitably embolden Bitcoin proponents.

The Turkish lira plunged to a record low against Bitcoin earlier this week with investors questioning the country's ability to prop up the value of its ailing currency.

Continuing, Pal noted a significant advantage of Bitcoin over gold in this respect, despite its latent gains versus the precious metal.