Winklevoss Twins Now World’s 1st Bitcoin Billionaires as Digital Currency Hits $11K Mark
TYLER and Cameron Winklevoss have reportedly become as the first bitcoin billionaires, as the market value of the virtual money continues to skyrocket.
The identical twins who claimed Mark Zuckerberg stole their idea for Facebook, are the now the world’s first Bitcoin billionaires.
One piece of this cryptocurrency – which is not supported by any financial institution or government regulatory body – recently hit the $11,000 mark. That is more than a 1,000 rise from where digital cash started the year.
Now, consider that the Winklevoss twins reportedly shelled out more than $11 million in digital currency in 2013, when a single coin was valued at only $120.
The twins had first gained notoriety over 10 years ago when they unsuccessfully sued Facebook (FB) chief executive officer Marc Zuckerberg for stealing the concept that emerged as the world’s biggest social network.
It was the settlement from that earlier legal tussle that funded their initial investment in cryptocurrency.
The story was immortalized in the movie “The Social Network”, and the Winklevoss twins ultimately walked away with that amount of money.
According to the United Kingdom’s The Telegraph, the twins used some of that money (A$14 million) to invest in Bitcoin in 2013. The brothers reportedly purchased one percent of all Bitcoin that was in circulation during the time.
“We see Bitcoin as potentially the biggest social network of all,” Tyler divulged last year.
According to the Financial Times, the brothers saw Bitcoin as a missing fragment of the digital financial landscape that would transform the way transactions are made.
“We saw this movie play out already with Facebook. We feel like we are in the same film again, just with a different cast of characters,” he said.