The Winklevoss Twins Are The First Bitcoin Billionaires

Investing.com - Tyler and Cameron Winklevoss – the brothers who alleged that Mark Zuckerberg stole the idea for Facebook (NASDAQ:FB) from them, own one of the largest Bitcoin portfolios in the world. After they won $65 million in a lawsuit against Facebook in 2011, the twins invested $11 million in Bitcoin. Back then, Bitcoin cost $120. The twins once bragged that they owned 1% of all Bitcoin, which amounts to approximately 1.5 million coins in all. They have reportedly not touched any of their holdings; they’ve just watched their wealth grow. Today, with a single Bitcoin valued at more than $15,000, the brothers’ Bitcoin investment is worth well over $1 billion. The brothers have launched the Gemini cryptocurrency exchange and also tried to create a Bitcoin ETF, but failed to get SEC approval. Perhaps now that Bitcoin futures has arrived, their ETF idea will get reconsidered and open the door for more institutional investing. Either way, with $1 billion in the digital bank, the brothers are the first Bitcoin Billionaires.