Winklevoss twins become bitcoin billionaires – tech2.org

Winklevoss twins become bitcoin billionaires



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The twin brothers who lost to Mark Zuckerberg over control over Facebook have become bitcoin billionaires.

Tyler and Cameron Winklevoss risked the coin four years ago with an investment of $ 11 million, the sum of which they won from a $ 65 million Zuckerberg deal in 2008.

The brothers claimed that Zuckerberg stole his idea of ​​Facebook and sued.

The investment of $ 11 million, however, has since increased by almost 10,000 percent, making it the first trillion dollars. yield in dollars made by a cryptocurrency investor.

Despite its success, bitcoin has provoked a great debate in recent years, with critics calling it a "bitcoin bubble".

In September, JPMorgan Chase CEO Jamie Dimon criticized the cryptocurrencies as a "fraud", which caused their value to fall.

Other heavyweights such as Goldman Sachs CEO Lloyd Blankfein have also objected, while the Federal Reserve has issued a warning about its financial stability.

Read more : Bitcoin recovered above $ 11,000

It is true that its price has been "yo-yoed" since its inception. The controversial badet rose again above $ 11,000 on Saturday for the first time since Wednesday, which is when the cryptocurrency broke the mark.

Such gains have seen the first sponsors as the Winklevoss twins now reap the rewards.

The brothers "The return has not been disclosed although it is estimated at around 100,000 bitcoins, a figure that will further consolidate its re-branding as bitcoin entrepreneurs.

Last year, Tyler Winklevoss told the Telegraph that the currency it could be worth billions and was "like a better version of gold."

Other notable investors in the cryptocurrency include the infamous entrepreneur Charlie Shrem, who, in addition to being an early sponsor, received a two-year prison sentence for charges related to money laundering.

The secret inventor of the Bitcoin coin, known as Satoshi Nakamoto, is still unknown.

Becoming a decentralized digital currency in 2009, bitcoin is created and maintained electronically. It can be attributed in part to Asia, where Japan recently legalized it as an official payment method.

A growing number of other countries are getting regulated. Managers examine bitcoin and invest in blockchain, which legitimizes cryptocurrency. It is not backed by any central bank.

Read more : Bitcoin bubble grows as banks plummet

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