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The Winklevoss twins are now among the world's first bitcoin billionaires

05 December 2017

The Telegraph reported over the weekend that the Winklevoss twins, who famously sued Mark Zuckerberg saying he stole the idea for Facebook from them, are now the world's first bitcoin billionaires.

Bitcoin has grown exponentially since: Fortune reports that, when the Winklevosses first invested, the cryptocurrency was trading at $120 per coin, a far jump from the more than $11,000 it has reached today.

Over a period of four years, twins Tyler and Cameron Winklevoss have become billionaires.

Bitcoin bulls say that this same question has been asked every time Bitcoin has hit a new all-time high.

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Bitcoin has turned many early investors into millionaires but the Winklevoss twins are among the few current investors with a 10-figure amount.

The Winklevii, as the two have been nicknamed, were early believers in bitcoin - and the large purchase of the cryptocurrency allowed them to control almost 1 percent of bitcoins. "Still, the twins" early comments about bitcoin appear to have been prescient.

Of course, the other side of the argument suggests that bitcoin's value is peaking, and a sharp decline is inevitable. "We've never sold a bitcoin, we're in it for the long haul", Cameron told CNN Money in 2015.

In August, Tyler Winklevoss stated that Gemini and his partners are focused on providing liquidity and a trading platform for institutional and retail investors.

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In a massive rebound from a 20% plunge last week, bitcoin surged Sunday to a record high above $11,700 U.S. The news broke barely days after NASDAQ's rival CME Group confirmed that it will allow Bitcoin futures contracts as of December 18th this year.

LONDON, ENGLAND - OCTOBER 23: A visual representation of the digital Cryptocurrency, Bitcoin on October 23, 2017 in London, England.

What the Winklevii is are two people now holding just over $1 billion worth of bitcoin, and that's fantastic.

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The Winklevoss twins are now among the world's first bitcoin billionaires