Tyler and Cameron Winklevoss sued Mark Zuckerberg, claiming that he stole their idea and part of the code for Harvard Connection, when he made Facebook. After a few processes, the twins received a significant compensation, of $65 million, so they decided that part of it should be invested.
To be more specific, they put $11 million into Bitcoin, back in 2013, when the world’s most popular currency was trading at just $120.
Staying on a big stack of coins
Ever since they made their initial investment, the Winklevoss brothers have not sold a single coin, simply waiting to see their value growing. And if we consider the current price, of $11,740.00, we must agree that they did the right thing.
Their entire amount of Bitcoin they bought, worth now $1 billion, represented 1 percent of the currency’s total dollar value equivalent in 2013. But in the mean time, it has surged over 10,000 percent.
“If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap,” Tyler Winklevoss said in 2015. “We do feel those are very real possibilities.”
However, according to Fortune, it looks like they have bigger plans that just waiting for their fortune to grow even more.
They tried to do a few more things with their coins…
Earlier in 2017, says the same source, they tried to create an exchange-traded fund for Bitcoin, but the United States Securities and Exchange Commission rejected their application. Like expected, they invoked the possibility of fraud. On the other side, if successful, this attempt would have opened the door to institutional investing in the currency.
Right now, just a few Bitcoin wallets are worth more than $1 billion, one of them actually belonging to the mysterious inventor of the cryptocurrency, known as Satoshi Nakamoto.
As a side note, despite their success with cryptocurrency, the brothers are still way behind their ex-colleague Mark Zuckerberg, who is now valued at $71 billion by Forbes.