Here's Why The Winklevoss Twins LOVE Bitcoin

Eric and Tyler Winklevoss, famous for rattling legal sabers against Facebook, garnered some attention when they claimed to own 1% of all Bitcoins, the anonymous digital currency, earlier this year.

Speaking to Business Insider's executive editor Joe Weisenthal at IGNITION 2013, the twins laid out the reasons why they love Bitcoin.

In response to the criticism that Bitcoin is purely speculative, either Eric or Tyler (we didn't catch which one) said that "people speculate in dollars too. This idea that people aren't betting when they hang on to a dollar is incorrect."

They also love the currency's transparency, explaining that "there is nothing predictable or transparent about the US dollar. No one has any idea what the Federal Reserve's going to do, how they operate."

Bitcoin, on the other hand, is fixed at 21 million coins that will come out incrementally and predictably over time.

"Bitcoin brings the promise of email to the finance sector. Now it's instant and effectively free to send money anywhere," the twins said.