The Winklevoss twins have become the world's first bitcoin billionaires: Report

CNBC
Tuesday, Dec 05, 2017
Photo: Reuters

Bitcoin reached another new high on Sunday, crossing the threshold of a US$11,826.76 ($15,917.99) a coin for the first time.

With the surge, the digital currency may also have produced its first billionaires, according to the Telegraph: Cameron and Tyler Winklevoss, who are best known for suing Facebook founder Mark Zuckerberg in 2008 over the claim that he stole the idea for the social network from them. They were awarded US$65 million (S$87.5 million).

In 2013, the twins told the New York Times that they owned more than US$11 million worth of bitcoin, making them the first well-known figures to divulge such a hefty stake in the speculative asset.

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Bitcoin has grown exponentially since: Fortune reports that, when the Winklevosses first invested, the cryptocurrency was trading at US$120 per coin, a far jump from the more than US$11,000 it has reached today. That's an increase of over 9,000 per cent.

Despite controversy surrounding the long-term implications of investing in bitcoin, the twins say they're committed to the digital currency. "We've never sold a bitcoin, we're in it for the long haul," Cameron told CNN Money in 2015.

"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. We do feel those are very real possibilities," Tyler also told CNN Money.

The newly minted billionaires still have a long way to go to catch up to their former rival. As of Monday morning, Zuckerberg, one of the richest people in the world, is worth an estimated US$72.2 billion.

READ ALSO: Elon Musk denies he is bitcoin creator Satoshi Nakamoto

This article was first published in CNBC.

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