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The Winklevoss Twins Now Appear to Be Bitcoin Billionaires
05 December 2017, 02:20 | Melanie Burgess
Image courtesy Twitter/@tylerwinklevoss
Tyler and Cameron Winklevoss, who sued Facebook'sMark Zuckerberg claiming he stole their idea for the social networking site, have invested and reaped a 10,000 per cent rise in the cryptocurrency to become billionaires.
Cameron and Tyler Winklevoss are believed to be among the first bitcoin investors to pull in a billion-dollar return after the cryptocurrency's value surged to almost $11,500 on Monday.
Today, they were named official Bitcoin billionares as BTC's price hit $11,700.
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.
Besides being Bitcoin billionaires and rowers, the twins have also come into the spotlight for their legal proceedings with Facebook founder Mark Zuckerberg as they accused him of stealing their concept of a social network.
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Winklevoss twins reportedly described the cryptocurrency as "better than gold". 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.
City AM, a UK-based publication, revealed that the Winklevoss Twins are estimated to hold 100,000 bitcoins, given their $11 million investment in 2013.
Still, the twins themselves have noted that older Bitcoin aficionados probably have larger holdings. They've spent much of the last two years attempting to launch their own bitcoin exchange, a dream that was dashed by the Security and Exchange Commission this spring in its latest regulatory hurdle. One of the key benefits that Bitcoin offers is the possibility of quick big gains.
In a massive rebound from a 20% plunge last week, bitcoin surged Sunday to a record high above $11,700 U.S. However, it looks like Bitcoin is here to stay.
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