MARKET WE'RE UP ALMOST 109, CLOSE TO 24,500

>>> LET'S GET TO WHAT EVERYBODY IS TALKING ABOUT THAT WOULD BE, BITCOIN CHAIR OF THE SEC IS WARNING AGAINST INVESTING IN IT 40% OF THE BITCOINS ARE OWNED BY 1000 PEOPLE HERE SUCH ARE THE INSIDERS IN THE BITCOIN GAME

LOOK WHO IS HERE? CAMERON AND TYLER WINKELVOSS, IS THAT ACCURATE >> NO COMMENT STUART: WHAT DO YOU MEAN BY THAT? THAT IS GOOD START TO THE INTERVIEW WHAT THE SEC CHAIR IS GETTING AT IS, LOOK, A LOT OF GUYS WITH A LOT OF MONEY ON THE INSIDE OF THE BITCOIN DEAL THEY WERE FIRST IN

THEY MAY BE SELLING JUST AS THE LITTLE GUY, RETAILFY IS COMING IN THEY GET LEFT HOLDING THE BAG WHAT DO YOU SAY TO THAT? >> THE IDEA THAT THE LITTLE GUYS WERE THE FIRST ONES INTO BITCOIN WE JUST LAUNCHED A FUTURES, BITCOIN FUTURES CONTRACT WITH THE CBOE THAT IS CASH-SETTLED, WHICH MAKES IT EASIER FOR WALL STREET INSTITUTIONS TO GET IN BUT I THINK — STUART: EASIER FOR THE LITTLE GUY TO GET IN AND THEY'RE INSTITUTIONS HAVE HAD TROUBLE GETTING IN SINCE DAY ONE WHEN WE FIRST BOUGHT BITCOIN THERE WEREN'T REGULARLY LICENSED EXCHANGES

WE CHANGED THAT BUILDING GEM ANY — STUART: YOU'RE DANCING AROUND THE ISSUE HERE YOU KNOW WHAT I'M TALKING B LATE TO THE GAIL IS THE LITTLE GUY, THE PRICE IS TO THE ROOF ARE YOU SELLING? >> WE LIVED THROUGH 20 BITCOIN BUBBLES AT THIS POINT EVER SINCE IT WAS A BUBBLE AT $100 A BUBBLE AT 1000 A BUBBLE AT $15,000

WE THINK GOLD HAS BEEN A GREAT BUBBLE FOR 3,000 YEARS WE STILL THINK IT IS REALLY EARLY I DON'T THINK THAT THE FORWARD, 300 BILLION-DOLLAR MARKET CAP, OUR THESIS, BITCOIN BEING GOLD 20 PLAYS OUT, GOLD IS A 6 TRILLION-DOLLAR MARKET CAP SO IT HAS A WAYS TO GO

STUART: IS IT CORRECT, 1000 PEOPLE, PROBABLY A LOT OF PEOPLE KNOW EACH OTHER, ONE THOUSAND PEOPLE, OWN, CONTROL 40% OF ALL THE BITCOINS, THAT ACCURATE? >> I HAVEN'T SEEN THAT PIECE STUART: YOU'RE NODDING >> VERY WELL MAY BE OVERSTATED BECAUSE THEY'RE LOOKING AT CERTAIN BITCOIN ADDRESSES AN EXCHANGE MIGHT CONTROL A LOST BITCOIN BUT THAT IS DEPOSITS FROM CUSTOMERS LOOK, EVERYONE I KNOW WHO IS IN BITCOIN, STARTING FIVE YEARS AGO, OR EVEN FOUR YEARS AGO, THEY'RE THE LITTLE GUYS

THEY'RE COMPUTER PROGRAMMERS THEY'RE GEEKS THEY'RE AVERAGE HOBBY ITS INVESTORS IT IS FOR ONCE, TURNED THE PARADIGM ON ITS HEAD WALL STREET IS LATE IN THE GAME AND STARTING TO GET IN

I DON'T KNOW WHERE YOU SORT OF CAME UP WITH THAT FACT BUT THAT IS THE COOLEST THING ABOUT BITCOIN YOU DON'T NEED TO BE ACCREDITED INVESTOR TO GO INTO VC FIRM TO INVEST SELLING? YOU MADE A TON OF MONEY BUT YOU'RE NOT SELLING? >> WE'RE NOT STUART: YOU'RE IN FOR THE LONG HAUL, NO MATTER WHAT, YOU'RE IN IT? >> YEAH STUART: THIS IS NOT A BUBBLE

THIS IS NOT A BUBBLE? >> THIS IS THE 20th BITCOIN BUBBLE I REMEMBER IT WAS A BUBBLE AT $50, $100, $500, 1000, 10,000 GOLD HAS BEEN A BUBBLE FOR THOUSANDS OF YEARS GOLD IS DOING JUST FINE SO, YOU KNOW, WE'RE IN THIS FOR THE LONG HAUL

WE THINK BITCOIN DISRUPTS GOLD WE THINK IT IS GOLD 20