Inaya Mclaughlin
The Winklevoss twins, Tyler and Cameron, are known for their legal dispute with Mark Zuckerberg over the concept for Facebook. However, their investment in Bitcoin has also gained attention. In 2013, the twins announced they had purchased one per cent of the total supply of Bitcoin at the time, amounting to $11 million. Despite initial ridicule, their investment has paid off, with their Bitcoin now worth more than $32 million. The Winklevoss twins are likely to be remembered as cryptocurrency pioneers, with their venture into Bitcoin proving to be a successful second act.
| Characteristics | Values |
|---|---|
| Amount Invested | $11 million |
| Year of Investment | 2013 |
| Current Value of Investment | $32 million |
| Percentage of Total Bitcoin Holdings | 1% |
What You'll Learn
The Winklevoss twins' initial $11 million investment
The Winklevoss twins, Tyler and Cameron, first learned about Bitcoin in 2012. In April 2013, they announced they had acquired $11 million worth of Bitcoin, which amounted to 1% of all Bitcoins in circulation at the time. This purchase was ridiculed by many, as the value of Bitcoin plummeted from a record high of $266 to $120 the day after the twins' announcement, and continued to fall to $50 in the following days. However, the Winklevoss brothers held onto their investment, and by November 2013, their $11 million worth of Bitcoin had tripled in value to around $32 million.
The brothers' interest in Bitcoin was sparked by its "elegance and enormous promise", and they became convinced that it was "the future of money". This belief led them to launch the Gemini Bitcoin exchange in 2015. The Winklevoss twins' early investment in Bitcoin has proven to be a wise decision, as they are now likely to be remembered as cryptocurrency pioneers and very wealthy ones at that. By late October 2017, their Bitcoin holdings were estimated to be worth more than $1 billion, solidifying their status as two of the biggest winners of the Bitcoin boom.
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The investment is now worth over $40 million
The Winklevoss twins, Tyler and Cameron, are known for their legal dispute with Mark Zuckerberg over the concept for Facebook. However, their investment in Bitcoin has also brought them a lot of attention.
In 2013, the Winklevoss twins announced that they had acquired $11 million worth of bitcoins, which amounted to 1% of all bitcoins in circulation at the time. This investment was initially met with ridicule, as the value of bitcoin dropped significantly shortly after. However, the brothers held on to their bitcoins, and their investment paid off handsomely.
By November 2013, the value of their bitcoins had increased to $32 million, almost tripling their initial investment in just seven months. The Winklevoss brothers' decision to hold on to their bitcoins despite the initial drop in value demonstrated their belief in the potential of this new digital currency.
Their investment continued to grow in value, and by late October 2017, their one percent total holdings of bitcoin were worth more than $1 billion. This made the Winklevoss twins the richest celebrities in terms of Bitcoin investments at the time.
The Winklevoss brothers' success with Bitcoin has solidified their status as pioneers in the cryptocurrency space and very wealthy investors. Their story serves as a testament to the potential rewards of investing in emerging technologies and taking calculated risks.
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The brothers hold 1% of all Bitcoins in circulation
The Winklevoss twins, Tyler and Cameron, are known for their legal dispute with Mark Zuckerberg over the concept for Facebook. However, their investment in Bitcoin has also gained them a lot of attention.
In 2013, the Winklevoss brothers announced they had acquired $11 million worth of bitcoins, which amounted to 1% of all bitcoins in circulation at the time. This investment was initially met with ridicule, as the value of Bitcoin dropped significantly soon after. However, the brothers held onto their bitcoins, and their investment paid off handsomely. By November 2013, the value of their bitcoins had tripled to $32 million.
The Winklevoss twins' early investment in Bitcoin demonstrates their foresight and belief in the potential of the cryptocurrency. They first learned about Bitcoin in 2012 and were immediately impressed by its "elegance and enormous promise." In 2015, they launched the Gemini Bitcoin exchange, further solidifying their involvement in the world of cryptocurrency.
The Winklevoss brothers' story serves as an example of the potential rewards of investing in emerging technologies and their ability to identify and capitalise on innovative opportunities. Their investment in Bitcoin has likely contributed significantly to their wealth, and they are now known as pioneers in the cryptocurrency space.
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The Winklevoss twins' Bitcoin journey began in 2012
The Winklevoss twins, Tyler and Cameron, are known for their legal dispute with Mark Zuckerberg over the concept for Facebook. However, their journey with Bitcoin began in 2012 when they first learned about the cryptocurrency. In their words, they were "immediately taken in by Bitcoin's elegance and enormous promise".
In April 2013, the Winklevoss twins announced they had acquired $11 million worth of bitcoins, which amounted to 1% of all bitcoins in circulation at the time. This was met with ridicule from some, as the value of Bitcoin plummeted following its record high of $266 the day before the announcement. However, the brothers held onto their investment, and it paid off. By November 2013, their $11 million investment had tripled in value, now worth around $32 million.
The Winklevoss twins' success with Bitcoin continued, and by late October 2017, their one percent total holdings of the leading digital currency were already worth more than $1 billion. They launched the Gemini Bitcoin exchange in 2015, solidifying their status as cryptocurrency pioneers.
The Winklevoss twins' early investment in Bitcoin is a testament to the potential of the cryptocurrency market. While it may be volatile, the massive gains possible have made it an attractive investment for those willing to take the risk.
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The twins' Gemini Bitcoin exchange launched in 2015
The Winklevoss twins, Tyler and Cameron, made an $11 million investment in Bitcoin in 2013. They claimed to have been impressed by the cryptocurrency when they first heard about it in 2012. In their announcement in a Reddit AMA, they said:
> “We first learned about Bitcoin in 2012. Perhaps where you’d least expect — on an island off the coast of Spain in the middle of August. Our first impression was that this was either going to be really big or a complete zero. We were immediately taken in by Bitcoin’s elegance and enormous promise, and as we started to learn more, we became convinced that Bitcoin was the future of money."
The twins' investment in Bitcoin is now worth a lot more than their initial investment. In 2013, their investment was briefly worth only $6 million, but by November of that same year, it was worth $32 million. As of late October 2017, their one per cent total holdings of Bitcoin were worth more than $1 billion.
In 2015, the Winklevoss twins launched the Gemini Bitcoin exchange.
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Frequently asked questions
The Winklevoss twins, Tyler and Cameron, invested $11 million in Bitcoin in 2013.
The Winklevoss twins owned 1% of all Bitcoins in circulation.
The Winklevoss twins began investing in Bitcoin when the price was in the single digits. By July 2012, the price of Bitcoin had reached $9.
The value of the Winklevoss twins' Bitcoin investment has increased significantly over time. As of October 2017, their investment was worth more than $1 billion.
