Winklevoss Twins Turn $11M Into $1B Bitcoin Fortune

Winklevoss Twins Turn $11M Into $1B Bitcoin Fortune

Winklevoss Twins Turn $11M Into $1B Bitcoin Fortune

While the precise date of the Winklevii bitcoin purchase is unknown, the cryptocurrency was trading for under $250 for most of the year - and under $150 for several months. Even JP Morgan's senior analyst Tom Lee has confirmed the optimistic estimates it wants to climb within five years to $ 25,000, endorsing his undisputed commercial success.

The twin brothers who claim Mark Zuckerberg stole their idea for Facebook are now Bitcoin billionaires. The Winklevoss twins are long-time bitcoin bulls and are investors in crypto exchange Gemini.

The digital currency has surged nearly 10,000 per cent since Tyler and Cameron Winklevoss, 36, first bought into it four years ago.

The digital currency retraced some of its gains Sunday after hitting the peak. The digital currency hit a new high of $11,826.76 a coin on Sunday, according to data from Markets Insider, surpassing its previous high of about $11,300. In an interview with the Telegraph, Tyler noted that bitcoin is a better version of gold, sharing the same sentiment as other investors and analysts in the space, including Apple co-founder Steve Wozniak.

Many bet big on Bitcoins and turned into overnight millionairess following recent price surge.

The two former Olympic rowers disclosed in 2013 that they owned $11 million worth of bitcoin. "Still, the twins" early comments about bitcoin appear to have been prescient.

Interestingly, the venture capitalists pointed out that they have not sold a single bitcoin yet, with Cameron Winklevoss stating that the two of them are in for the long haul. In other words, they bought 11,000 Bitcoins.

There is also a steady increase in interest from institutional investors. And the world just got its first set of Bitcoin billionaires.

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

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