Bitcoin Time Machine Hands Buyers a 50% Discount, Cameron Winklevoss Says

Gemini co-founder Cameron Winklevoss says the artificial intelligence (AI) trade has handed investors a Bitcoin (BTC) time machine, with the asset now trading near half of last year’s price.

He posted the argument on X, urging investors to treat the drop as an entry point rather than a warning sign.

Why Winklevoss Calls This a Bitcoin Time Machine

Winklevoss argues that capital chasing AI stocks has suppressed crypto prices. As a result, buyers can now reach levels that looked out of reach twelve months ago.

The AI trade has given the world a time machine to go back in time and invest in Bitcoin at $65k. A year ago, if Bitcoin was offered at a 50% discount to its then-current price of $120k, there would be an unlimited amount of buyers. This is an unprecedented time to buy the dip —…

— Cameron Winklevoss (@cameron) August 18, 2026

He ties the weakness to competition for capital. AI equities absorbed flows that once moved into risk assets such as BTC.

The comparison rests on a simple counterfactual. A year ago, BTC traded above $120,000, and a few holders expected a slide back toward $60,000.

Bitcoin peaked at $126,080 on October 6, 2025, according to BeInCrypto price data. BTC now changes hands at $64,231, roughly 49% below that record. Meanwhile, the market value of the asset sits near $1.29 trillion.

The chart shows where the damage landed. BTC broke down sharply in February 2026 and has traded below $80,000 ever since.

The pitch also echoes his earlier calls. In July, Winklevoss backed Bitcoin and Zcash as the AI rout dragged South Korea’s Kospi index down almost 11%.

His own trading record complicates the message. In March, the twins moved $130 million in BTC to Gemini wallets, which analysts read as preparation to sell.

Gemini has felt the downturn directly. The exchange cut roughly 30% of its workforce earlier this year and posted a $585 million loss for 2025.

Analysts Still See Room Below $64,000

Not everyone treats the discount as a floor. One BeInCrypto study of cycle timing placed the bear market bottom near $47,000.

Institutional demand also looks thin. Last week, spot Bitcoin exchange-traded funds (ETFs) recorded $390 million in outflows as oil prices climbed.

The AI question cuts both ways. Money rotating out of AI stocks could lift crypto. However, a broad risk selloff would probably drag BTC lower first.

Still, Bitcoin has shown some independence this week. On Monday, the S&P 500 slipped while BTC pushed above $64,000 ahead of the Federal Reserve minutes.

Winklevoss closed his post by asking when Bitcoin goes back to the future. Traders watching the current Bitcoin price may read part of that answer in this week’s Fed minutes.