Meet world’s first Bitcoin billionaires who once sued Facebook CEO Mark Zuckerberg

in #bitcoin6 years ago

The report says that an investment of $11 million made by Winklevoss brothers in Bitcoin four years back has climbed by almost 10,000 percent to worth more than 1 billion today, after last week’s price surge.

Winklevoss brothers, the identical twins, who sued Mark Zuckerberg, chairman and chief executive officer of Facebook, claiming he stole their idea to create popular social media platform, are banking on the sudden surge in the price of the popular cryptocurrency. Tyler and Cameron are said to be the first public figures to have become billionaires by investing in Bitcoin, reported The Telegraph. The report adds that an investment of $11 million made by Winklevoss brothers in Bitcoin four years back has climbed by almost 10,000 percent to worth more than 1 billion today, after last week’s price surge. Bitcoin topped $11,000-mark last Wednesday, recording a historic high.

According to a report in the Financial Times in 2016, Tyler had said, “We see Bitcoin as potentially the greatest social network of all.” Even then, the identical twins believed that Bitcoin was a missing piece of the digital economy that has potential to change the way transactions are made. The 36-year old brothers were first introduced to Bitcoin while holidaying in Ibiza in 2012, In 2015, they launched a digital currency marketplace – Gemini.

Bitcoin soared by 900 percent this year alone. Renowned hedge fund manager Michael Novogratz has called a target of $40,000 on the cryptocurrency by the end of 2018, even as the regulators kept on the edge over the rapid surge in the value and the hot air building up around it. He was among the first ones to call a target of $10,000.

When Bitcoin’s value grew to a staggering $11,395 last week, the two became the first high profile Bitcoin billionaires in the world. The only other known Bitcoin wallet with that amount belongs to the mysterious faceless creator of the cryptocurrency, Satoshi Nakamoto.

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