Early Bitcoin investor Tyler Winklevoss challenged Bill Gates to “put your money where your mouth is” after the Microsoft founder said on Monday that he would he would short the currency “if there was an easy way to do it.”
That comes after Gates said the technology underlying Bitcoin, blockchain, is promising, though Bitcoin itself is “not a good thing” as it is used by criminals trying to fly under the radar.
Winklevoss, who with his twin brother, Cameron, has become a billionaire following a surge in the value of Bitcoin surge, hit back on Twitter (The Winklevoss’ Bitcoin stash is estimated to be worth about $1.1 billion based on Monday’s Bitcoin price).
“Dear [Bill Gates], there is an easy way to short Bitcoin,” he wrote Monday. Then, he pointed to Bitcoin futures that Winklevoss-backed cryptocurrency exchange Gemini launched with the Chicago Board Options Exchange: “You can short XBT, the CBOE Bitcoin Futures contract, and put your money where your mouth is!”
The Winklevoss twin, who gained notoriety for suing Facebook, also mentioned Berkshire Hathaway CEO Warren Buffett, another known Bitcoin skeptic. Buffett said in January that said he expects Bitcoin to come “to a bad ending” because it doesn’t produce anything and is a purely speculative asset. However, Buffett has said that he has no plans to go short on the asset, though he’d be glad to buy a less risky derivative to hedge against a potential fall in Bitcoin.
The price of Bitcoin is now around $9,115, down about 3% Tuesday, and down from its all-time high near $20,000 in December.