We all know very well that the price of the popular crypto-currency Bitcoin has seen a massive growth this year. However, now many of you might not have remembered about the Winklevoss Twins who once sued the founder of the social network giant Facebook, Mark Zuckerberg has become world’s first Bitcoin billionaires.
Winklevoss Twins Who Once Sued Mark Zuckerberg Becomes World’s First Bitcoin Billionaires
Bitcoin’s price has been hitting record highs. It has been less than 48 hours since we reported that the popular cryptocurrency Bitcoin had surpassed the $10,000 mark. Recently, a single BTC (Bitcoin) was priced at $11,000.
This popular crypto-currency, Bitcoin more than tripled in three months; in August, a bitcoin was worth $3,000. Since the beginning of 2017, when the currency was quoted at less than a thousand dollars, the accumulated valuation is about 900%.
The over-pricing of bitcoin has already made an initial application accumulate one billion dollars. I’m talking about the brothers Cameron and Tyler Winklevoss, who invested $11 million in crypto-currency in 2013, and now have more than $1 billion in bitcoin.
The number, however, is still far from the $190 billion market value of crypto-currency, which, if it were a country, would rank 52nd on the list of the highest GDPs. Today, bitcoin has already reached more than $11,800.
Cameron Winklevoss said that “A lot of people don’t want to deal with the effort needed to secure your bitcoins. That’s why we started to build Gemini, which is a U.S.-based exchange with compliance — it’s NASDAQ, E-Trade and DTC built into one.”
In 2004, the ConnectU social network, owned by the twins, sued the social network giant Facebook, claiming that Mark Zuckerberg copied the idea and broke a verbal contact. The Winklevoss brothers became famous after the release of the film The Social Network in 2010, whose process is one of the main plots.
“Bitcoin was this really strange technology that only geeks — and even not a lot of geeks, it was geeks within geeks,” Tyler Winklevoss said. Moreover, they also added that “We really wanted to make sure we built this right. And then, you have to build a great product. Most of the startups deal with that last piece first.”
The twins closed the lawsuit in 2011 and earned $65 million, of which $11 million was invested in bitcoin. Since then, they are always talking about the crypto-currency: in 2015, Tyler Winklevoss told TechCrunch that both “eat, sleep and breathe bitcoins”.
Cameron Winklevoss said that “We’ve put our money where our mouth is. We don’t just have our skin in the game, we have our whole body in the game,”. Later they also added that “We are building a company, Gemini, and the ETF, which is another company. I don’t know if we’re experts, but the goal is not to be an expert but to change the world. Does Richard Branson understand all the physics behind his spacecraft? I’m not sure.”
Two years ago, they founded Gemini, a currency exchange house that now operates with bitcoin and ethereum, another crypto-currency as we told earlier. In March of this year, Bitcoin fell 15% just because the US Securities and Exchange Commission rejected the creation of an investment fund with Bitcoins proposed by the Winklevoss twins. In an interview with The Telegraph, both swear they have never sold a Bitcoin.
So, what do you think about this Winklevoss Twins who only Eat, Sleep, Breathe Bitcoin? Simply share your views and thoughts in the comment section below.