How Facebook made the Winkevoss twins Bitcoin BILLIONARES!

How Facebook made the Winkevoss twins Bitcoin BILLIONARES!

How Facebook made the Winkevoss twins Bitcoin BILLIONARES!

The twins, who were nicknamed Winklevii, invested early on in Bitcoin and their purchase allowed them to control almost 1 percent of bitcoins.

Despite the rising popularity of Bitcoin trading not only among technologists, investors, and the masses, there are financial experts who are dismissing its real value - claiming that it is a fraud. It was a total of 1% of all the Bitcoins mined at the time. The digital currency hit a new high of $11,826.76 a coin on Sunday, according to data from Markets Insider, surpassing its previous high of about $11,300.

Winklevii tried to create an ETF or an Exchange Traded Fund for the cryptocurrency, which would have opened it up to institutional investing.

Former Olympic rowers Cameron and Tyler Winklevoss disclosed in 2013 that they owned $11 million worth of bitcoin.

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The digital currency retraced some of its gains on Sunday after hitting the peak. A likely candidate: the mysterious father of bitcoin, known as Satoshi Nakamoto, who was the first to mine bitcoin at a time when it was far easier to unlock the cryptocurrency. Digital currency ethereum rose more than 3.5% to $480.00 U.S. Why would these two bozos waste their money on Bitcoin?

Their bet paid off hugely, with bitcoin having soared over 10,000 per cent after last week's price surge.

Still, the twins themselves have noted that older Bitcoin aficionados probably have larger holdings. "We've never sold a bitcoin, we're in it for the long haul", Cameron told CNN Money in 2015. It is believed to be the first billion-dollar return made by a cryptocurrency investor, a landmark moment for the controversial asset. But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are "going to be the biggest bubble of our lifetimes".

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