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Winklevoss Twins Reach Billionaire Status via Bitcoin

05 December 2017

The 36-year-old brothers lost their case against Mr Zuckerberg but received a settlement of US$65 million (S$87.6 million) and used US$11 million of it to invest in bitcoin back in 2013, meaning they were early backers of the cryptocurrency.

Cameron and Tyler Winklevoss, the identical twins famous for their legal battle with Mark Zuckerburg over the ownership of Facebook, have become bitcoin billionaires following a surge in value of the currency over the past year, according to The Telegraph.

Like billionaire technology angel investor Tim Draper, the Winklevoss twins have allocated a significant portion of their resources and capital in providing a better infrastructure for the bitcoin market, specifically for investors in the traditional finance market. And just last week it returned them 10,000%! When this digital currency first came out, no one would have predicted the kind of success it would gain.

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Bitcoin trading in Japanese yen accounted for about 58% of trading volume, while USA dollar-bitcoin trading accounted for about 23%, according to CryptoCompare. While it is not known how much exactly is the Winklevoss Twins net worth in BTC, reports are expecting about a billion-dollar worth of Bitcoins.

Today, they were named official Bitcoin billionares as BTC's price hit $11,700. The Telegraph noted that the Winklevoss twins have been long-term Bitcoin bulls.

The question now is, will they sell? "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. This is the clearest indication that professional investors are looking at Bitcoin as a serious investment asset. Winklevoss's, however, are the first public figures to have made a billion out of the currency.

Winklevoss Twins Reach Billionaire Status via Bitcoin