Home News Article Winklevoss Twins Became World’s First Bitcoin Billionaires

Winklevoss Twins Became World’s First Bitcoin Billionaires

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Bitcoin Billionaires

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ameron and Tyler Winklevoss, together known as Winklevoss Twins, are the first confirmed billionaire bitcoin holders.

Satoshi Nakamoto, the originator of bitcoin, holds about 5% of the bitcoin’s entire supply. However, it remains ambiguous that the Nakamoto had previously mined bitcoin in 2009 is spendable and from then, for nearly eight years, Nakamoto’s bitcoin has not been moved or spent.

City AM, a UK-based Publication disclosed that the Winklevoss Twins are estimated to keep 100,000 bitcoins, given their $11 million investment in 2013. At the current cost of $11,200, 100,000 bitcoins are worth $1.12 billion.

Winklevoss Twins’ Contribution to Bitcoin Market

For several Years, Tyler Winklevoss emphasized his vision in bitcoin as a store of value. In an interview, Tyler noted that bitcoin is a much better variant of gold, sharing the same view as other analysts and investors in the area, such as Apple co-founder Steve Wozniak.

Like the billionaire Tech Angel shareholder Tim Draper, the Winklevoss twins also have owed a significant Part of their funds and providing a much better infrastructure to the bitcoin marketplace, especially for investors in the standard finance marketplace.

Among the most prosperous projects of this Winklevoss Twins is Gemini, a top and well-regulated US-based bitcoin market, which has served the US marketplace with its professional and innovative trading platform.

Earlier this year, Gemini came into a strategic partnership with the Chicago Board Options Exchange the biggest US options exchange with a yearly trading volume of, 1.27 billion bond, to list bitcoin futures. On December 4, CBOE disclosed that it has received the consent from the US Commodities and Futures Trading Commission (CFTC) and on December 10 will facilitate bitcoin futures trading.

In August, Tyler Winklevoss said that Gemini and his partners are determined on providing liquidity and a trading platform for retail investors and organizations.

Gemini’s primary concerns in the crypto-currency network have always been protection, conformity, and regulatory mistake. While performance with the team of CBOE, we are helping them to create bitcoin and other cryptocurrencies more and more accessible for both retail and organizational investors.

The record of bitcoin futures by CBOE through Gemini’s bitcoin exchange will significantly boost bitcoin’s liquidity in the mid-term, as tens of billions of dollars in institutional money flow into the bitcoin marketplace.

Large Bitcoin Holders are Big Believers

As bitcoin and Safety Pro Andreas Antonopoulos explained Coinscrum, a seminar hosted by the prestigious research institution Imperial College at London, investors have been invited to invest an amount of bitcoin which is proportional to their own understanding of bitcoin.

Antonopoulos explained

“What percent of your wealth ought to be tied up in bitcoin? A percentage that’s equal to a understanding of how the technology works and also your capacity to absorb the risks it involves, which for many people is a small percent.”

In 2013, the Winklevoss Twins invested $11 million in bitcoin, which was then an immature marketplace, because of their faith in that bitcoin could fight with conventional assets like gold and reserve currencies in the long-term.

 

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