Cameron And Tyler Winklevoss Are World's First Confirmed Bitcoin Billionaires

Tyler Durden's picture

The Winklevoss twins are officially the founding members of what we'd like to call the bitcoin billionaires boys club.

When Tyler and Cameron Winklevoss settled their lawsuit against Facebook founder Mark Zuckerberg, the twins probably thought they had missed a once-in-a-lifetime opportunity to become billionaires.

Nearly ten years later, the twins have reached a net worth of $1 billion thanks to a timely $11 million investment in bitcoin during April 2013, just as the world’s largest digital currency was entering mainstream consciousness.

That original $11 million was only part of a $65 million settlement they received from Facebook in 2008. Their lawsuit against the company provided much of the narrative grist for the Hollywood movie “The Social Network”.

Since the Winklevii opened their positions, the price of a single coin has risen from about $130 four-and-a-half years ago to an all-time high north of $11,000 last month.

According to City AM, the brothers’ have refused to disclose their exact return. Though it’s estimated that the size of their stake is around 100,000 bitcoins, a figure that will further cement their re-brand as bitcoin entrepreneurs. The Winklevii nearly three years ago became the first people to petition the SEC for a rule change that would effectively as

Other notable investors in the cryptocurrency include infamous entrepreneur Charlie Shrem who served a two-year stretch in federal lockup because his old company was accused of helping facilitate notorious black-market drug bazaar the Silk Road.

Furthermore, the secretive inventor of the Bitcoin currency – known only by his digital pen name Satoshi Nakamoto -has never been publicly identified.

As City AM explains, bitcoin is a decentralized digital currency that is created and stored on a digital ledger known as the blockchain. The digital currency’s recent success has been widely attributed to an influx of new buyers from China, South Korea and other countries across the region.

Last year, Tyler Winklevoss told the Telegraph the currency could be worth trillions and was “like a better version of gold”.

Many investors, including hedge fund pioneer Mike Novogratz, believe the price of a single bitcoin could reach $100,000 – or even $1 million – by late next year.

However, signs of turbulence are beginning to emerge: Just after 430pm ET on Sunday, we showed that bitcoin and the entire crypto space tumbled - with Bitcoin plunging from session highs just under $12,000 to a low of $10,600 - on news that Just after 430pm ET we showed that bitcoin, and the entire crypto space, tumbled, with Bitcoin plunging from session highs just under $12,000 to a low of $10,600 on what appeared at first sight to be no news….

…But later investors realized the move was driven by reports that UK government "ministers are launching a crackdown on the virtual currency Bitcoin amid growing concern it is being used to launder money and dodge tax."

Taking a page out of the Chinese playbook, the UK Treasury has announced plans to regulate the digital currency that will force traders to disclose their identities and report suspicious activity to government authorities.
 

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tmosley's picture

Look at those manly mother fuckers and their concrete shattering jaws. Tought these guys were more like those cucks that did the Matrix series. Glad to see I was wrong. Must be a reason I like Gemini so much.

Brazen Heist's picture

Can't say it wasn't a good bet. Not all of us had a spare $11m lying around though.

MonetaryApostate's picture

"Taking a page out of the Chinese playbook, the UK Treasury has announced plans to regulate the digital currency that will force traders to disclose their identities and report suspicious activity to government authorities."

You knew it was coming...

https://plus.google.com/collection/QorNbB

Brazen Heist's picture

Holy shit I knew it as soon as I got into crypto.

johngaltfla's picture

Knowing they are in it means one thing:

 

BTC $10 here we come!

tmosley's picture

Those jawlines are going to break your face.

BaBaBouy's picture

IS Grandma Buying Bitcoinz Yet ???

Harlequin001's picture

This should be interesting, let's see what happens when they try and get it out...

38BWD22's picture

$6350

$6400

$9300

$11,100

The above are my last four approximate selling points for BTC (buying gold). BTC has been very good to me.

I will keep schnitzeling my hodlings of BTC, especially if they bump up to 1% of my net. While I am likely to always keep some BTC (or something better if it comes along), SELLING BTC is what I will do.

I no longer can recommend buying BTC after this HUGE move up.

YES, I am keeping the best possible records I can for the taxman. Capital Gains tax and all.

Everyone should (who has won bigly) keep good records, the IRS is looking at YOU!

Laowei Gweilo's picture

isn't this jut an estimate assuming they kept all those BTC?

'first confirmed BTC billionaires'

'quickly says it's never been confirmed' lol

and considering how vocal they were about pushing BTC back then, and yet how quiet they are now -- the exact time you'd think they'd be trying to support the momentum -- it seems presumptous to assume they still have all those BTC

 

either way, good for them tho... I mean, whether Harvard Connect or Bitcoin, while they may not be able to create shit, but they've some knack for spotting disruptive new tech.

either that, or being from a rich family just makes it easier to bet on future tech -- and if 1000 trust fund babies do so, 1... err, 2, of them are bound to be right haha =p #nothatingjustsaying

Utopia Planitia's picture

At $10,000/day max withdrawl it will take, oh,  274 yrs...

tmosley's picture

I don't know about other exchanges, but Gemini has no upper limit for wire withdrawals.

Michigander's picture

No, but grandpa is....and he has been for 5 years now. Take that you millenial POS.

Stackers's picture

First Trillionaire to be a Bitcoin whale ?

MonetaryApostate's picture

Americans will all soon be trillionaires with worthless US Dollars..

Fake money, fake debt, fake value, fake news, fake investments, fake markets, fake history, yes, fake everything!

 

 https://plus.google.com/collection/QorNbB

TahoeBilly2012's picture

Then suddenly, around 2022...the entire stoned world wakes up and realizes physical silver is the worlds best Bitcoin, evah! Twittles thumbs (if I live that long!).

tmosley's picture

I came here to laugh at you.

Bay of Pigs's picture

Being such a pussy, I imagine you have a glass jaw?

tmosley's picture

Faggots imagine a plethora of things, don't they?

Cynicles II's picture

taking your word for it, pussy

tmosley's picture

>said the literal nobody

localsavage's picture

Funny how this click of people always end up smelling like roses when it comes to over valued investments.  No doubt that they will somehow get out before any collapse...All by matter of coincidence of course.

jmack's picture

funny how your click of people doesn't know how to spell clique and has to assign  "coincidence" to people who are conscientious enough to learn how to spell and can see the writing on the wall.

 

 

nmewn's picture

You should hang a picture of them in your living room...lol...they got in while you were still pumping silver like a horny poodle on a strangers leg ;-)

Hulk's picture

ROTFLMAO !!! I seem to remember some purchases near 50 bucks !!!

tmosley's picture

>I still pump silver

>But I blame others for pumping silver in the past

WEW.

nmewn's picture

Well, you did.

And I called you out on that too.

tmosley's picture

Do repost that, because I think you are full of shit.

LetThemEatRand's picture

Wink guy + tmosley = twins?  Let me settle this once and for all.  You're both assholes :).

nmewn's picture

When you say "nice" in regards to assholes...it sure does get confusing ;-)

tmosley's picture

That is because you are a sexually confused faggot. But I will gladly help you with that.

Zyklon B.

nmewn's picture

I have a son which disproves the first and the Nazi apologists have claimed forever there was no Zyklon B which disproves the second...apparently...it was merely a "delousing"...lol.

Care to argue with me or your confused Nazi friends who are sure to join in now that you're grasping at BitStraws?

But I gotta say, you're making one helluva case for not drinking while commenting! ;-)

tmosley's picture

It was indeed a delousing agent. But kikes like you are like lice, and equally vulnerable.

You will die in the first REAL holocaust.

nmewn's picture

So...you deny it?

Careful now ;-)

tmosley's picture

I told you to repost it, faggot. Do it now while I prepare the gas chamber for you.

Bay of Pigs's picture

You sound like John Podesta losing it after being accused of child molestation.

 

tmosley's picture

I wonder how many children you have raped.

I would guess...77.

All boys.

in4mayshun's picture

Sometimes remaining silent is a more respectable response than devolving into hurling meaningless insults.

Giant Meteor's picture

Amen ..

It goes along with , better to keep mouth closed and be thought a fool, rather than open it and remove all doubt ..

tmosley's picture

Sometimes, cucks do what you think they should do rather than punching back ten times harder.

That's why they are cucks.

nmewn's picture

How many do you want?

Here's the first...you asked for it...

"After that (while still continuing to buy silver), get a shotgun and a .22 rifle"

http://www.zerohedge.com/article/guest-post-silver-getting-too-popular%E...

It should be noted here, silver and the .22 rifle are as real as it gets, BitCoin is not.

If you answer this in some form not to my liking I will bury you with your own quotes on silver.

You should stop drinking and commenting here like we are all fucking dickhead BitCoin buyers and that we don't know what you said in the past right now T, this is your final warning. 

tmosley's picture

ALL of them. I want you to waste your entire life trying to do something to me. Because you are weak and pathetic, and I am better than you.

S.N.A.F.U.'s picture

Well, some digging shows that tmosley was...

pro-silver at least up to July 2013:
http://www.zerohedge.com/news/2012-12-24/eric-sprott-why-are-investors-b...
http://www.zerohedge.com/news/2013-07-08/historic-inversion-gold-gofo-ra...

pro-bitcoin at least by Nov 2013:
http://www.zerohedge.com/news/2013-11-29/bitcoin-now-worth-more-gold#com...
http://www.zerohedge.com/news/2013-12-09/bitcoinaires-take-streets#comme...
http://www.zerohedge.com/news/2013-12-24/bloomberg-tv-anchors-bitcoin-st...

I couldn't pin the date down more than that (without more effort than I'm willing to spend on a whim), and those two positions are not mutually exclusive.
Being pro-bitcoin in 2013 seems close enough to when "they got in".

The only link provided by nmwen dates to 2011 - two years before "they got in", so doesn't really prove nmwen's point.

Personally I've got my fingers crossed and am hoping bitcoin eventually crashes and burns in the most epic fashion imaginable, because if it actually goes mainstream and ends up accepted as currency by everyone and more or less stabilizes at some even higher value I'm going to kick myself so hard it's really gonna hurt.

tmosley's picture

Here is a guy who put in a lot of work for a total stranger in the interest of facts. Kudos!

I only went fully bullish on crypto this year. I liked it for a long time before that, but I liked silver much more, more's the pity. Lost four years of my life with that garbage when at least subconsciously I knew there was something better. But unlike the peanut retards around here, I actually did the arduous mental work of reappraising the entire situation and came to the realization that crypto had hijacked the bull case for PMs. The course from there was clear, and it has gone a long way towards salving the losses silver brought me, directly nad indirectly.

LetThemEatRand's picture

Peanutshell:  I went full retard.

malek's picture

So before in this thread you wrote to nmewn
>Do repost that, because I think you are full of shit.

So now you seem to definitely be full of shit, correct?