Winklevoss twins became first bitcoin billionaires using facebook payout

Bitcoin is back to its previous victorious ways, posting a record high on Sunday and eventually turning the twins into billionaires, Cameron and Tyler Winklevoss.

Tyler and Cameron Winklevoss—the twins who put their efforts and was unsuccessful to acquire control of Facebook after proclaiming that it had been suited from them—have rebounded big-time.

The Winklevoss twins hold one of the largest portfolios of Bitcoin in the world—and recent rushes in the digital currency’s worth have put the value of that portfolio at over $1 billion. That’s a magnificent return on an $11 million investment just four years ago.

According to data from Markets Insider, bitcoin experienced big price falls last week but restored over the weekend. The digital currency hit a new high of $11,826.76 a coin on Sunday, exceeding its previous high of about $11,300.

The digital currency went back over some of its wins Sunday after hitting the peak. As of 8.05 a.m. GMT (3.05 a.m. ET) on Monday, bitcoin was up 2.79% against the dollar to $11,554.83.

Bitcoin has developed rapidly since: Fortune reports that, when the Winklevosses first invested, the cryptocurrency was dealing at $120 per coin, a sudden jump from the more than $11,000 it has reached today. That’s a greater of over 9,000%.

In spite of controversy encompassing the long-term results of investing in bitcoin, the twins say they’re pledged to the digital currency. “We’ve never sold a bitcoin, we’re in it for the long haul,” Cameron told CNN Money in 2015.

“If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap. We do feel those are very real possibilities,” Tyler also told CNN Money.

Nevertheless, the twins have larger designs on Bitcoin than just ensuing wealth in their holdings. Earlier this year, they tried to create an ETF for Bitcoin, but fell short after the U.S. Securities and Exchange Commission ignored the application, quoting the probability of fraud. If they are successful, it would have opened the door to institutional investing in the currency.

The newly originated billionaires had a lot of time to go to catch up to their first competitor. Zuckerberg, one of the social networking giant in the world, is worth an estimated $72.2 billion on Monday morning.


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