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Bitcoin billionaires tip cryptocurrency's value to soar by another 20 times

The twin brothers dubbed the world's first "bitcoin billionaires" have predicted the controversial digital currency could increase in value by another 20 times from today's levels.

Speaking to Fox Business following the launch of the first bitcoin futures product on the Chicago Board Options Exchange (CBOE) on Sunday night, Cameron and Tyler Winklevoss challenged the naysayers to "put their money where their mouth is".

"We think bitcoin is gold 2.0," Cameron said. "It's a store of value, so today it's about a US$300 billion market cap, gold is at US$6 trillion, so we think it could very well go up another 20 times from today.

"We've been saying this since when bitcoin was a billion-dollar market cap. We've been in bitcoin about five years, it's grown about 300 times to this point, so we think it's definitely realistic that it could grow and disrupt gold and maybe even beyond that."

The Winklevoss twins are the founders of the Gemini Exchange — which the CBOE has partnered with for its futures product — and long-term bitcoin investors. In 2013, they bought US$11 million worth, accounting for around 1 per cent of total circulation at the time.

The pair first heard about bitcoin while on holidays.

"We were in Europe, we actually were on vacation, we had to get money to our accommodation, and it was so hard to get money from the US to Europe," Tyler said.

"The joke is if you want to get money from New York to London on a Friday night, go to JFK, jump on a plane with a bag of cash and you'll get there quicker than when you actually wire. This is the first money that's built for the internet."

They wouldn't comment on how much they still own, but said they had only ever sold or spent bitcoin twice in the past.

"I think Cameron bought some Legos, and we bought tickets to Virgin Galactic Space," Tyler said.

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