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Who are the Winklevoss Twins? Meet the First Bitcoin Billionaires

Who are the Winklevoss Twins? Meet the First Bitcoin Billionaires

It’s one thing to be a Bitcoin millionaire. It’s another to become a Bitcoin billionaire. At current BTC value, one would need to possess over 98,000 in bitcoins, quite impressive sum considering the rarity of this coin, even more impressive since we’re talking about a billion dollars…

Indeed, being a Bitcoin billionaire is like being a part of a more exclusive club. Only a few are confirmed to be legitimate members so far. Two of these happen to be Cameron and Tyler Winklevoss. They are better known as the Winklevoss twins.

Intrigued? Here’s what you need to know about them right now:

They sued and won a case against Facebook Founder Mark Zuckerberg

The Winklevoss twins have always considered themselves as internet entrepreneurs. So much so that they sued Facebook founder Mark Zuckerberg, claiming that it were them who got the idea for Facebook.

Back in 2003, the Winklevoss twins had a developed a university-based social network known as the Harvard Connection. According to them, then fellow student Zuckerberg took the idea and their source code to develop and launch his very own social media empire.

After battling with Zuckerberg in court for four years, the twins finally reached a settlement amounting to $65 million. They collected $25 million in cash and $45 million in Facebook stock. Later on, the Winklevoss twins filed a lawsuit against Facebook again. This time, they alleged that the stock settlement had been undervalued. However, they did not succeed in suing Zuckerberg for more.

They Used Some of Their Facebook Settlement to Invest in Bitcoins

After collecting cash from Zuckerberg, the Winklevoss twins decided to take a huge gamble and invest some of the money in the Bitcoin market. In 2013, they invested a total of $11 million in Bitcoin. Back then, the Bitcoin value was reportedly just at $120. As of December 2017, the value of the Bitcoin is now at $12,000. Clearly, the twins’ gamble paid off handsomely.

They are Celebrity Athletes

The Winklevoss twins are not just known for their Bitcoin success and Facebook lawsuit. They are also widely recognized for their athletic prowess in rowing. In fact, they competed together at the 2008 Beijing Olympics where they placed sixth.

What’s next for the Winklevoss twins? There’s a good chance they are going to keep hanging on to every bit of their bitcoins. Back in 2015, these two made it clear that they believe the Bitcoin is a good long-term investment. Tyler even remarked that the Bitcoin may be a “better type of gold” or a “type of gold-like asset.” By the looks of it, it seems he was doing something right.

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