Tyler and Cameron Winklevoss emerge as billionaires again after the surge in the value of bitcoin. The price of one bitcoin spiked to around $15,400, making them instant billionaires. The brothers expanded their association with crypto through their New York-based company, Gemini Trust Company. Just a month ago, the Financial Conduct Authority approved their request for an electronic money license. The approval has seen them advance in the digital market.
The value of bitcoin spiked to over $15,000 on Thursday despite unrest following U.S presidential elections. It was undeterred by the Central bank and International governments’ extraordinary stimulus following the Covid-19 pandemic. The coin’s price has doubled since the beginning of the year. The twins’ wealth is $1 billion, aside from the volatility of bitcoin.
The Root of the Winklevoss Twins’ Wealth
The twins’ wealth has been on the rise since they started investing in crypto. They turned to cryptos after a conflict between them and Mark Zuckerberg on who founded Facebook Inc. In 2013 they acquired $11 million bitcoin and established Gemini Trust Company, a crypto exchange.
Gemini wants to generate a systematic-level technology that offers excellent outstanding connectivity. Winklevoss twins gained stardom in 2010 following the release of a movie, “The Social Network.”In 2017 they became billionaires for a brief period before the value of bitcoin dropped.
Crown Crypto Billionaires
There are so many billionaires, but only a few are crypto billionaires. In April 2018, in Forbes magazine, the best four entrepreneurs who acquired wealth through cryptos were included among 2,095 billionaires. Bitmain co-founder, Micree Zhan, took no.690 on the list. He had a net worth of $3.2 billion. Jihan Wu, his co-founder, was at no.1307 with a net worth of $1.8 billion. Former Ripple CEO stood at no.886 with $2.6 billion, and Brian was fourth at no.2087 with $1 billion. By 2018 Tyler and Cameron Winklevoss had a combined net worth of $1.8 billion, nearly making it to the list. Changpeng Zhao also topped the list of “The Richest People in Cryptocurrency” publication in 2018.
Cryptocurrency has gained popularity, and the masses are adopting it. Crypto is now a new reality that has surpassed the utilization of a better high-end encryption strategy. Investors of bitcoin realize huge returns, which no one would have believed when it began. Becoming bitcoin billionaires and millionaires is now materializing for several far-sighted investors.