The Winklevoss Twins Now Bitcoin Billionaires

05 December, 2017, 02:23 | Author: Manuel Hopkins
  • Bitcoin billionaires: Winklevoss twins' $11m bet on digital currency is now worth $1 billion

YES! Suck it Zuckerberg, the Winklevii are making bank a different thing they probably don't understand!

Cameron and Tyler Winklevoss are believed to be among the first bitcoin investors to pull in a billion-dollar return after the cryptocurrency's value surged to almost $11,500 on Monday.

The identical twins - who were made famous in movie The Social Network - reportedly bought 1 per cent of all bitcoin in circulation at that time. And who's to say the value of Bitcoin won't continue to rise?

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

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That stratospheric rise has made millionaires out of many of bitcoin's early backers, but the twins are believed to be the first public figures to have turned an investment into more than US$1 billion, the Daily Telegraph reported on Sunday. But here we are, Bitcoin is now the most valuable digital currency on the planet.

The listing of bitcoin futures by CBOE through Gemini's bitcoin exchange will drastically increase bitcoin's liquidity in the mid-term, as tens of billions of dollars in institutional money flow into the bitcoin market. Despite sharp falls in prices recorded last week, the cryptocurrency appears to have rallied over the weekend. "Still, the twins" early comments about bitcoin appear to have been prescient.

As The Verge reports, $11 million of that $65 million was invested in Bitcoin. Last week it emerged that the exchange operator Nasdaq could follow its rival CME Group in launching bitcoin future contracts next year, a sign that professional investors are increasingly taking the asset seriously.

What the Winklevii is are two people now holding just over $1 billion worth of bitcoin, and that's fantastic. But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are "going to be the biggest bubble of our lifetimes".

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