When you think of the Winklevoss twins, you probably think of them suing Mark Zuckerberg for stealing their idea for Facebook. In 2013 the famous twins invested $11 million in Bitcoin and after a massive surge last week their Bitcoin portfolio surpassed a billion dollars. Billion with a B.
The Verge noted that Bitcoin “has surged over 10,000 percent since the Winklevoss’ investment, when one coin traded at around $120.” Since that investment the brothers have held on to every single coin. Now each of those coins are worth $11,260.
Back in 2013, Cameron Winklevoss discounted that Bitcoin was in any way a Ponzi scheme.”People say it’s a Ponzi scheme, it’s a bubble, People really don’t want to take it seriously. At some point that narrative will shift to ‘virtual currencies are here to stay.’ We’re in the early days,” Cameron said to the New York Times.
“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,” Cameron’s brother Tyler during a 2015 interview. “We do feel those are very real possibilities.”
Meanwhile there are still plenty who are skill skeptical of Bitcoin. Neil Wilson, senior market analyst at ETX Capital, says Bitcoin is. “following the playbook for a speculative bubble to the letter.” At some point, the Bitcoin bubble will burst, he said.
“This sort of thing never, ever lasts,” said Wilson.
No matter what happened, the Winklevoss twins can take their money free and clear and never think about Bitcoin again. It will be interesting to see how long they keep their funds in there.