The Winklevoss Twins: World First Documented Bitcoin Billionaires
Tyler and Cameron Winklevoss—the brothers who tried and failed to gain control of Facebook after alleging that Mark Zuckerberg stole their idea for a social network while all three were undergraduate students at Harvard; a fight that was featured in the film aptly titled ‘The Social Network.’
The 36-year-old identical twins sued Mark Zuckerberg in 2011, but lost their case against Mark Zuckerberg, however they received a settlement of US$65 million. . While that number was paltry in comparison to Facebook’s worth, it was enough to take the twins’ net worth past the billion dollar mark.
Tyler and Cameron Winklevoss invested $11m of the payout in Bitcoin in 2013. They paid about $120 each for their approximately 91,666 Bitcoins, making them owners one of the largest portfolios of Bitcoin in the world—and recent surges in the digital currency’s value have put the value of that portfolio at over $1 billion. That’s an impressive profit on an $11 million investment just four years ago.
The brothers have reportedly not sold a single one of their Bitcoins, sitting on them and watching them accrue value. And it’s been a stunning thing to witness: when the Winklevoss’s invested in Bitcoins, the currency was trading at just $120. As at this morning, (February 15,2018) a single Bitcoin’s value was $9,777.
This stratospheric rise has made millionaires out of many of Bitcoiners but the Winklevoss twins are believed to be the first public figures to have turned an investment into more than US$1 billion (S$1.35 billion), according to the Daily Telegraph.
"We see bitcoin as potentially the greatest social network of all," Tyler told the Financial Times last year. The twins first learnt of bitcoin while on holiday in Ibiza in 2012, and launched their own digital currency exchange, called Gemini, in 2015.
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