The problem the Winklevoss twins have is that they seem to be placing a bet on what they believe will be a long-term secular trend through an instrument that is

The problem the Winklevoss twins have is that they seem to be placing a bet on what they believe will be a long-term secular trend through an instrument that is extremely volatile and better suited to speculation, and that will probably continue to be for the foreseeable future. In doing so, they're taking on a level of risk that is unnecessary given their investment thesis. If the Winklevoss twins truly believe that the future of "virtual currencies" is bright, their investments should be focused almost exclusively on ecosystem companies, not the currencies themselves.