Winklevoss twins, from losing Facebook fight to becoming Bitcoin billionaires

-


By Moris Beracha.- 

Twins Cameron and Tyler Winklevoss became known in 2008 when they were in dispute with Mark Zuckerberg for the original idea of Facebook. After a lawsuit filed in a United States court, the twins with BA degrees in Harvard and Olympians reached a settlement agreement valued at about $ 62 million.
The Winklevoss twins, invested part of the money they won, about $ 11 million, into Bitcoins in 2013. By that year, the digital currency was trading at just $ 120 a coin. In 2017, the bitcoin exceeded its value at $ 15,000. The 11 million became a holding to be worth approximately $ 1,300 million in December last year, when the value per unit reached a price of $ 18,500.
Cameron and Tyler became the most prominent billionaires by amassing a bitcoin fortune. More than a few people in Silicon Valley saw that decision made by the Winklevoss in 2013 as naive. Some still consider it that way.
"We've turned that laughter and ridicule into oxygen," Tyler Winklevos said in an interview with The New York Times.
It is unclear how fleeting their vindication is, because the value of the currency fluctuates constantly. Today, the average price of each coin is $ 11,090, according to the cryptocurrency market, Coinbase.
While several anonymous "crypto-billionaires" are collecting their profits and buying luxury cars or sports equipment, the Winklevoss twins say they have no intention to diversify.
"We still think it is probably one of the best investments in the world and will be for the decades to come," said Tyler. "And if it’s not, we’d rather live with disappointment than regret," he said.

Comentarios

Publicar un comentario

Entradas populares de este blog

A Race for Blockchain: IBM, Microsoft, Lenovo explore DLT

-
Imagen
Blockchain, cryptocurrency, and other innovative techs have significant disruptive potential. Within the course of time, this fact becomes obvious not only for community enthusiasts but also for traditional industry players. That is probably the major reason for world electronic bulls to explore the innovative possibilities to boost their own progress. Microsoft showed interest in blockchain technology back in 2018. They announced their plans to apply the technology behind Bitcoin (the leading crypto by market cap) in its decentralised IDs (DIDs) App. The company was support DLT-based DIDs through Microsoft Authenticator App. However, as of now, the project seems to be frozen.    Unstoppable IBM    IBM, another technological giant, has has shown interest in exploring blockchain and cryptocurrency techs even earlier, in 2015. As of now, the company is known to take part in several related projects.   In January 2019, Ford Motor comp...
Leer más

Cryptocurrency Universe Expands Far Beyond Bitcoin

-
Imagen
The code base is increasing and improving every day as computer science graduates from top schools jump on board. By Aaron Brown A sort of “cryptobrawl” broke out last month at the Milken Institute Global Conference between economist Nouriel Roubini and panel participants more optimistic about the future of cryptocurrency technologies. I had the opportunity to participate in a partial rematch at Battle of the Quants, where Roubini was just as negative and DMS Governance's John D’Agostino presented a moderate defense. All of the heat concerns the border of crypto and traditional finance, but much of the important stuff is happening far from the border. For example, one of Roubini's claims is that advances in financial technology by existing financial institutions and startups are delivering on many of the promises of crypto-enthusiasts, and these will continue to transform financial markets. That’s true. However, many of those advances were spurred by the threat of ...
Leer más

Small-business owners more optimistic at the start of 2020, the NFIB says

-
Imagen
The numbers: Small businesses turned more optimistic about sales and profits in the first month of 2020, but they are still struggling to find qualified workers, according to a closely followed survey. The National Federation of Independent Business said its index of small-business optimism rebounded from a small dip in at the end of last year, rising to 104.3 points in January from 102.7 in December. Business owners were more confident that sales would continue to rise and help support higher profits, the NFIB said. What happened: The net percent of owners who expect higher inflation-adjusted sales in the months ahead rose by 7 points to 23%. By and large, business owners were nonplussed by the impeachment trial of President Donald Trump. A gauge that measures uncertainty was basically unchanged. The biggest worry of small businesses continues to be a shortage of skilled employees available for hire. A quarter of owners say it’s their No. 1 problem — more than taxes or re...
Leer más