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

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.
 

Comments

tmosley Sun, 12/03/2017 - 21:08 Permalink

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.

38BWD22 Harlequin001 Sun, 12/03/2017 - 22:32 Permalink

$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!

In reply to by Harlequin001

Laowei Gweilo 38BWD22 Sun, 12/03/2017 - 22:37 Permalink

isn't this jut an estimate assuming they kept all those BTC?'first confirmed BTC billionaires''quickly says it's never been confirmed' loland 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

In reply to by 38BWD22

nmewn tmosley Sun, 12/03/2017 - 22:09 Permalink

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! ;-)

In reply to by tmosley

nmewn tmosley Sun, 12/03/2017 - 22:24 Permalink

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%… 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. 

In reply to by tmosley

S.N.A.F.U. tmosley Sun, 12/03/2017 - 22:49 Permalink

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-… at least by Nov 2013:http://www.zerohedge.com/news/2013-11-29/bitcoin-now-worth-more-gold#co… 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.

In reply to by tmosley

tmosley S.N.A.F.U. Sun, 12/03/2017 - 22:55 Permalink

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.

In reply to by S.N.A.F.U.