Winklevoss twins used Zuckerberg's payout to become world's first Bitcoin billionaires

Posted December 05, 2017

Even JP Morgan's senior analyst Tom Lee has confirmed the optimistic estimates it wants to climb within five years to $ 25,000, endorsing his undisputed commercial success.

Tyler and Cameron Winklevoss, who famously won a $65 million settlement from a lawsuit against Facebook in 2011, later used some of that money to purchase what they said was $11 million worth of bitcoin in 2013.

Firstly, who? Aside from the villainous Bond names, the Winklevoss twins actually rose to fame thanks to one Mark Zuckerberg. And just last week it returned them 10,000%!

Since then, Bitcoin has surged in valuation by almost 10,000 percent, making billionaires out of the 36-year-old twins.

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In 2013, the twins told the New York Times that they owned more than $11 million worth of bitcoin, making them the first well-known figures to divulge such a hefty stake in the speculative asset.

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

Many bet big on Bitcoins and turned into overnight millionairess following recent price surge.

Last week, the digital currency hit $11,395 to continue its drastic rise in value over the past few days. They later argued it was "better than gold". "Still, the twins" early comments about bitcoin appear to have been prescient.

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"We've never sold a bitcoin, we're in it for the long haul", Cameron added.

If the Winklevii bought in at $120, which is entirely possible given the trading range, they would have gotten roughly 91,666 bitcoins.

In August, Tyler Winklevoss stated that Gemini and his partners are focused on providing liquidity and a trading platform for institutional and retail investors.

However, it seems Bitcoin's enormous popularity is slowly gaining traction among private entities and financial regulators. However, it looks like Bitcoin is here to stay.

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