Gemini Stock Rises 14% in Nasdaq Debut as Winklevoss Twins Predict $1M Bitcoin
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, opened strong on Nasdaq Friday, reflecting investor optimism and the founders’ bullish outlook for bitcoin.
The company priced its IPO Thursday at $28 per share, valuing Gemini at approximately $3.3 billion. This exceeded the revised $24–$26 range and was well above the original $17–$19 target. The offering included 15.2 million shares, raising $425 million.
Shares debuted at $37.01, a 32% premium to the IPO price, spiked to $45.89 during intraday trading, and closed at $32, 14% above the offer.
Headquartered in New York, Gemini provides a suite of crypto services, including a spot exchange, institutional custody, a U.S. dollar-backed stablecoin, a crypto rewards credit card, and staking products. As of July, the platform held over $21 billion in assets. The company reported losses of $159 million in 2024 and $283 million in H1 2025.
On CNBC’s “Squawk Box,” Tyler Winklevoss described bitcoin as “gold 2.0” and said adoption is in the “first inning.” He and Cameron projected that bitcoin could reach $1 million within the next decade.
Gemini follows other major crypto IPOs, including Coinbase (COIN) in 2021 and Bullish (BLSH) last month.
