Facebook payout turns Winklevoss twins into first Bitcoin billionaires

Cameron & Tyler Winklevoss a.k.a the Winklevi

Cameron & Tyler Winklevoss a.k.a the Winklevi

The Winklevoss twins are definitely getting their money's worth.

For many years, Tyler Winklevoss emphasized his belief in bitcoin as a store of value.

After surging past $11,000 on 29 November, bitcoin's value fell to almost $9,000 in volatile trading, before recovering at the weekend.

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Yesterday, bitcoin hovered close to an all-time high of US$11,800 set on Sunday after the USA derivatives regulator allowed CME Group and CBOE Global Markets to list bitcoin futures.

The twins first learned of bitcoin while on holiday in Ibiza in 2012, and launched their own digital currency exchange, called Gemini, in 2015. But here we are, Bitcoin is now the most valuable digital currency on the planet.

Now there are now two twins who are smiling all the way to the bank all thanks to Bitcoin's unprecedented growth. Despite sharp falls in prices recorded last week, the cryptocurrency appears to have rallied over the weekend.

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It's generally believed that the twins are the first people (excluding the original creator... which is a whole other insane story that we'll cover soon) to become billionaires thanks to Bitcoin investments.

Still, the twins themselves have noted that older Bitcoin aficionados probably have larger holdings.

"We've never sold a bitcoin, we're in it for the long haul", Cameron added.

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As The Verge reports, $11 million of that $65 million was invested in Bitcoin. Cryptocurrency mania has since overtaken mature financial markets, with major institutional investors looking for ways to gain exposure. Last week it emerged that the exchange operator Nasdaq could follow its rival CME Group in launching bitcoin future contracts next year, a sign that professional investors are increasingly taking the asset seriously. Winklevoss's, however, are the first public figures to have made a billion out of the currency.

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