The Winklevoss Twins Have Mark Zuckerberg in Their Sights


The Winklevoss twins now have an undisputed achievement to their name.

Bitcoin hit $11,395 last week, capping a boom that started a year ago and accelerated dramatically in recent days, despite a chorus of warnings about its threat to financial stability and potential for criminal exploitation. Their initial investment saw them inject US$11 million into the digital asset to an estimated stake of around 100,000 Bitcoins.

It hit a new record high of $11,831 on Sunday night according to CoinDesk's bitcoin price index, before dropping sharply and then stabilising on Monday morning.

Firstly, who? Aside from the villainous Bond names, the Winklevoss twins actually rose to fame thanks to one Mark Zuckerberg.

Bitcoin, the original digital currency of the world wide web, has spawned its first billionaires, the Winklevoss twins.

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Bitcoin's rise comes amid continued interest in the digital currency from both ordinary investors and institutions. CBOE revealed on December 4 that it has received the approval from the US Commodities and Futures Trading Commission (CFTC) and will enable bitcoin futures trading on December 10.

Now there are now two twins who are smiling all the way to the bank all thanks to Bitcoin's unprecedented growth. "Still, the twins" early comments about bitcoin appear to have been prescient. "We've never sold a bitcoin, we're in it for the long haul", Cameron told CNN Money in 2015.

An increasing number of countries are now getting regulators to look at bitcoin and investing in blockchain, which legitimises the cryptocurrency.

In August, Tyler Winklevoss stated that Gemini and his partners are focused on providing liquidity and a trading platform for institutional and retail investors.

Investors are being drawn in by the promise of big gains. Winklevoss's, however, are the first public figures to have made a billion out of the currency.