Gemini (GEMI) co-founder Cameron Winklevoss has called the artificial intelligence (AI) trade a special opportunity for investors to buy Bitcoin (BTC) at a discount, saying Bitcoin’s fall to $65,000 is a “time machine” to buy the asset, not a warning.
“The AI trade has given the world a time machine to go back in time and invest in Bitcoin at $65k,” Winklevoss wrote in a post on X on Tuesday. He said that the current setup was “an unprecedented time to buy the dip — hiding in plain sight.” He added that “The only question now is when will Bitcoin go back to the future.”
His comments landed as Bitcoin’s price crossed $65,000 in intraday trading for the first time in over a week, rising 1.7% in 24 hours before easing to around $64,700. The apex cryptocurrency outperformed U.S. equities during the session, with the SPDR S&P 500 ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA) and Invesco QQQ Trust (QQQ) all trading lower.
On Stocktwits, Bitcoin was the top trending ticker. Retail sentiment around BTC moved to ‘neutral’ from the ‘bearish’ zone, accompanied by ‘normal’ chatter levels over the past day.
Not Everyone Shares Optimism
Winklevoss’ comment follows contradictory views from other market watchers tracking the same price level. Anthony Scaramucci, founder of SkyBridge Capital, stuck to a $100,000 long-term target even as Bitcoin remains “in a clear bear market,” on Tuesday, saying that the next major catalyst would be the 2028 halving, which is still about 20 months away.
Bitcoin has its tightest volatility band in five years, and part of that is capital moving out of crypto and into AI, and miners redirecting compute power to AI infrastructure, said Scaramucci.
AI’s Pull On Capital
Moreover, Jordi Visser, Chief Investment Officer at 22V Research, has stated that Bitcoin is the “only AI trade” that will not be devoured by artificial intelligence, and has credited Strategy (MSTR) Executive Chairman Michael Saylor as being the first to see the thesis. Visser said in late July that Bitcoin’s fixed supply protects it from the competitive pressure that AI is putting on chipmakers and Big Tech.
But Visser’s own thesis acknowledges a near-term headwind that Winklevoss’s comment glosses over. Scaramucci cited one reason why the cryptocurrency has stalled, saying that in his view capital has been flowing into AI infrastructure rather than into Bitcoin.
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