Skip to content

Winklevoss twins become the first official Bitcoin billionaires

They say that revenge is a better-served dish cold – in this case, perhaps with a bitcoin side?

While Mark Zuckerberg's participation in Facebook has made him one of the richest men in the world, his rivals, the Winklevoss twins, have found another way to become billionaires. The twins sued Zuckerberg in 2011 and received a $ 65 million payment. While this number was derisory compared to the value of the business, it was enough to take the twin's net worth past the billion dollar mark.

According to The Telegraph, the twins invested $ 11 million in Bitcoin in 2013 Fortune points out that the twins paid about $ 120 each for their 91,666 Bitcoins, which gave them about one percent of all the Bitcoins that were extracted at that time.

Five years later and the price of Bitcoin has climbed. At press time, Bitcoin sits above $ 11,400. It is believed that the Winklevoss twins are the first investors to make a return on their $ 1 billion investment.

The industrious entrepreneurs sit on top of a prestigious list of Bitcoin owners. They are also launching their own Bitcoin ETF – which was rejected earlier this year. Their own exchange of Bitcoin, Gemini, worked for about a year after a long battle for approval.

Perhaps not the richest

Due to the pseudo-anonymous nature of Bitcoin, be others who own even more bitcoin than the Winklevoss twins. Satoshi Nakamoto, who is still alive and has access to his private keys, owns about a million Bitcoins, or about 11 billion dollars

Other early Bitcoin investors are also candidates to the status of billionaire. Roger Ver is widely believed to have 300,000 Bitcoins. Trace Meyer is another billionaire contender, having bought Bitcoin when the currency was trading around 25 cents each. A few months ago, Ver and Meyer made a bet of 25,000 Bitcoin on the future of the Bitcoin scaling debate (Worm facing big blockers and now supports Bitcoin Cash).

See also  Work hard to increase crypto acceptance, help travelers

Well Known Twins for Bitcoin

Given the important role of twins in the world, they are likely to continue to play a major role in the adoption of Bitcoin. Bitcoin and altcoins in the ordinary consciousness. Their influence has weight in many spheres, in business, academia and sports. Yes, sports. The twins competed in the rowing events at the 2008 Beijing Olympics.