“Bitcoin has definitely been a little bit boring lately,” Winklevoss said at the Bitcoin Amsterdam conference, “It almost feels like it's resting up and getting ready for some big surge. It's always hard to predict those moments, but they're going to happen. So just be patient.”

While he declined to put a date on the next rally, Winklevoss reiterated his ultra-bullish long-term view. 

“I’m not sure exactly what the catalyst will be, if the Fed starts dropping rates more aggressively, or some geopolitical situation, but I have faith it's always going to go up. And it's going to go up 10x from here at a minimum,” he said.

Powerful coalition

He framed the current consolidation as just another phase in Bitcoin’s familiar boom-bust-boom pattern, recalling how the price “hit a $20k ceiling, then crashed to $3,800 a Bitcoin, and then it totally ripped toward the latter half of COVID.” The key, he argued, is zooming out: “When you zoom out, it's always going up. You’ve got to be patient.”

Winklevoss also urged the industry to recognize how young Bitcoin still is. “We haven't been doing this that long, just over a decade. It’s not that much time,” he said, adding that the community often underestimates how much it has already achieved.

He pointed to political clout as one of those achievements, claiming crypto holders played a decisive role in the last US election cycle. 

“We got governments really upset. They tried to attack us. We helped vote in a new president because 50 million crypto HODLers in the US were attacked, and so we're a big coalition, and we're powerful,” he said. “We've achieved a lot.”