The enormous swings in bitcoin prices could soon quiet some, said Tyler Winklevoss, one half of the illustrious twins who famously accused Mark Zuckerberg of stealing their idea for Facebook Inc. (FB) - Get Facebook, Inc. Class A Report .

Winklevoss told TheStreet that a futures market for bitcoin might shrink some of the volatility that has stood as a hallmark of the cryptocurrency in the past several months.

"The more investment vectors there are for bitcoin, the more ability there is for people to express opinions. And the more people can express opinions, generally speaking, volatility will reduce, price discovery will increase with increased liquidity," said Winklevoss.

Winklevoss and his brother, Cameron, are betting big on bitcoin. After winning $65 million in a settlement over the Facebook matter, the twins invested $11 million in bitcoin. That was in 2013, and bitcoin traded around $120. Earlier this month when bitcoin surpassed the $10,000 mark, the Winklevoss became widely regarded throughout the depths of the internet media as the "Bitcoin Billionaires."

Image placeholder title

They've since embarked on a crusade of sorts to offer some stability to the cryptocurrency, utilizing their background as Harvard-educated angel investors with a great deal of pull on Wall Street.

Among their latest ventures is Gemini, what they call a "next generation bitcoin exchange." It's a fully regulated, fully compliant exchange for institutions and individuals. Their priority is security, offering some long-yearned-for stability to a market to which many traditional investors are still adjusting.

TheStreet Recommends

A major step in their bid to further legitimize bitcoin is a strong and healthy futures market.

Futures contracts first opened for bitcoin this month, with Cboe Global Markets Inc. (CBOE) - Get Cboe Global Markets Inc Report kicking off bitcoin futures Dec. 10 and CME Group Inc. (CME) - Get CME Group Inc. Class A Report following suit on Dec. 18. The notion of futures for such a relatively new asset class has concerned some, such as Interactive Brokers CEO Thomas Peterffy.

But Winklevoss was quick to point out that the market for futures came after a long period of preparation. To be sure, neither Cboe nor CME are going in blind.

"These are professional markets that have been in this business for decades. Cboe is 40 years old -- they understand how to manage risk," Winklevoss said.

The ability to bet on bitcoin futures creates a two-sided market for bitcoin, plus provides some long-anticipated regulation. Both of those factors suggest volatility could pare back as the futures market settles into trading.

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB? Learn more now.

More of What's Trending on TheStreet: