Winklevoss Twins Reach Billionaire Status via Bitcoin

Dianna Christensen
December 5, 2017

That's right, Tyler and Cameron Winklevoss - who in 2004 famously sued Mark Zuckerberg, claiming he stole their idea for Facebook - have ridden a 10,000 percent rise in the cryptocurrency to a 10-digit net worth.

While the precise date of the Winklevii bitcoin purchase is unknown, the cryptocurrency was trading for under $250 for most of the year - and under $150 for several months.

It's generally believed that the twins are the first people (excluding the original creator... which is a whole other insane story that we'll cover soon) to become billionaires thanks to Bitcoin investments.

Bitcoin reached another new high on Sunday, crossing the threshold of a $11,826.76 a coin for the first time.

Bitcoin's meteoric recent rise means Winklevoss twins' $11 million bet on the cryptocurrency in 2011 is now worth over $1 billion.

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It has been a rollercoaster ride for the digital currency in the past week.

The twins together had $11 million bitcoin at $120 a coin in April 2013. "Still, the twins" early comments about bitcoin appear to have been prescient.

The twins first learned of bitcoin while on holiday in Ibiza in 2012, and launched their own digital currency exchange, called Gemini, in 2015.

Interestingly, the venture capitalists pointed out that they have not sold a single bitcoin yet, with Cameron Winklevoss stating that the two of them are in for the long haul. At today's price of $11,200, 100,000 bitcoins are worth $1.12 billion. The news broke barely days after NASDAQ's rival CME Group confirmed that it will allow Bitcoin futures contracts as of December 18th this year. "By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors", said Tyler. So yeah, looks like virtual currencies are here to stay.

Other reports by GlobalViralNews

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