Gemini Crypto Exchange IPO Soars 14% as Winklevoss Twins Predict $1M Bitcoin: What’s Next?

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Markets

What to know:

  • Gemini shares opened at $37.01, way above their IPO price of $28, and ended 14% higher.
  • Tyler and Cameron Winklevoss, those wizards of crypto, predict Bitcoin could hit a cool $1 million in the next 10 years.
  • The IPO raised a whopping $425 million, pegging Gemini’s value at $3.3 billion even before the first trade.

Behold, the launch of Gemini Space Station-or, as it’s known in some circles, the cryptocurrency exchange founded by the Winklevoss twins. The Nasdaq debut was nothing short of a spectacle, with $425 million raised in its initial public offering, and no, it wasn’t a mistake.

The IPO was priced at $28 per share, giving the company a $3.3 billion pre-trading valuation. This, mind you, was above the $24 to $26 range the company had initially set, and a far cry from the humble $17 to $19 range it had first proposed. The offering included a grand total of 15.2 million shares-because why not?

Fast forward to Friday morning, and Gemini opened at $37.01-32% more than its offer price. But wait, there’s more: shares soared to an intraday high of $45.89 before eventually “settling” at $32, still 14% above its IPO price. Why settle when you can fly high, right?

Headquartered in New York, Gemini offers a veritable buffet of crypto services, including a spot exchange, institutional custody solutions, a U.S. dollar-backed stablecoin, a crypto rewards credit card, and staking products. As of July, the company held a mind-boggling $21 billion in assets on its platform. But, spoiler alert: they lost $159 million in 2024 and another $283 million in the first half of 2025. So much for profit, eh?

Tyler and Cameron, who were already crypto billionaires after their early investment in Bitcoin (because why wouldn’t they be?), appeared on CNBC’s “Squawk Box” to chat about their IPO. Tyler referred to Bitcoin as “gold 2.0″ and claimed the crypto revolution was still in the “first inning.” But wait-there’s more! The twins projected that Bitcoin might hit $1 million in the next decade. A bold prediction, to say the least. Will it happen? Only time will tell, but if it does, we’ll all be kicking ourselves for not buying in sooner. Or not. 🍿

And as Gemini rides high on the IPO wave, it joins Coinbase (COIN), which listed in April 2021, and Bullish (BLSH), owner of CoinDesk, which just went public last month. The crypto space is only getting more interesting, and clearly, the Winklevoss twins are in it for the long haul-preferably with a hefty profit at the end.

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2025-09-13 15:54