The First Bitcoin Billionaires from New York

by: Mohammad Hafiz
Cameron and Tyler Winklevoss

Twin brothers from New York Cameron and Tyler Winklevoss became the first Bitcoin billionaires! They accused Mark Zuckerberg of stealing the idea of Facebook and bought plenty of Bitcoins that allowed them to become mega-rich. I'm going to tell you how they managed to do this!

While twins were studying in the Harvard University, they made out an idea for creating a social network called ConnectU. After Mark Zuckerberg introduced his Facebook to the public, brothers claimed he had stolen the idea from them and began to take serious actions.

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Nearly 10 years ago, they sued Mark in the court and got a $65 million compensation.

In 2012, they discovered the Bitcoin cryptocurrency while travelling to Ibiza and decided that it was a nice investment for them. So, they spent $11 million for buying Bitcoins. Surely, they spent the money they got from Zuckerberg from the court.

Bitcoin billionaires

Cameron and Tyler thought that Bitcoin would be the future of the digital economy. It pretended to change the payment methods in the whole world.

They say, that brothers have spent nearly 120 dollars for one Bitcoin, so, they got around 1% of the overall Bitcoins amount for that time.

2 years passed, and they created the exchange of digital currency called Gemini (that literally means ‘twins’). It allowed investors to buy, sell and store their Bitcoins. Tyler said that their main purpose of starting the cryptocurrency exchange was creating something like NYSE or Nasdaq but for the digital currency.

Bitcoin’s history wasn’t easy, it faces ups and downs, but not so long ago it overcame the $10.000 mark (for one coin). As a result, twins became billionaires almost doing nothing, just having those Bitcoins, in 4 years. The price of the cryptocurrency has grown by over than 100 times!

Well, my idea is that these talented brothers really have the gift of accurate forecasting. At least, they made out a social network and then began to work with Bitcoins which are very popular today. These are entrepreneurs of the future. What do you think?

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