Winklevoss twins become world's first bitcoin billionaires

Randall Padilla
December 5, 2017

Cameron Winklevoss and Tyler Winklevoss - the twin brothers who claimed in 2006 that Facebook was their idea plagiarized by Mark Zuckerberg - have earned that distinction.

The identical twins used some of that money (A$11 million) to invest in the controversial asset Bitcoin more than four years ago. When it hit $11,000 this weekend, such a stake...

It's generally believed that the twins are the first people (excluding the original creator... which is a whole other insane story that we'll cover soon) to become billionaires thanks to Bitcoin investments.

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

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

Bitcoin's rise comes amid continued interest in the digital currency from both ordinary investors and institutions. In 2016, Gemini became the world's first licensed digital currency exchange. However, since they made the investment in 2013 the twins have never sold any Bitcoin, so why would they start now? "Still, the twins" early comments about bitcoin appear to have been prescient.

There is also a steady increase in interest from institutional investors.

As The Verge reports, $11 million of that $65 million was invested in Bitcoin. The news broke barely days after NASDAQ's rival CME Group confirmed that it will allow Bitcoin futures contracts as of December 18th this year.

However, it seems Bitcoin's huge popularity is slowly gaining traction among private entities and financial regulators.

The Winklevii's bitcoin wallet is among a very small handful to have reached the billion-dollar mark, according to The Telegraph, one of the others being the currency's mysterious inventor Satoshi Nakamoto.

Other reports by AllAboutTopnews

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