Twins become world's first bitcoin billionaires

Twins become world’s first bitcoin billionaires

Cameron and Tyler Winklevoss are believed to be among the first bitcoin investors to pull in a billion-dollar return after the cryptocurrency's value surged to almost $11,500 on Monday.

Cameron and Tyler Winklevoss, who are popularly known as the Winklevoss twins, are now more than $1 billion richer as their venture on cryptocurrency Bitcoin has profited from the $11 million investment they made six years ago. The Winklevoss twins are long-time bitcoin bulls and are investors in crypto exchange Gemini.

It has been a rollercoaster ride for the digital currency in the past week. The brothers reportedly bought 1 percent of all Bitcoin in circulation at the time. In an interview with the Telegraph, Tyler noted that bitcoin is a better version of gold, sharing the same sentiment as other investors and analysts in the space, including Apple co-founder Steve Wozniak.

Their bet paid off hugely, with bitcoin having soared over 10,000 per cent after last week's price surge.

Bitcoin hit a record high on Sunday closing at $11,826.76.

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

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As The Verge reports, $11 million of that $65 million was invested in Bitcoin.

The big question now is if there's any more room left for Bitcoin to grow.

There is also a steady increase in interest from institutional investors.

LONDON, ENGLAND - OCTOBER 23: A visual representation of the digital Cryptocurrency, Bitcoin on October 23, 2017 in London, England. The news broke barely days after NASDAQ's rival CME Group confirmed that it will allow Bitcoin futures contracts as of December 18th this year.

Whether this will affect how the coin is traded remains to be seen. It is believed to be the first billion-dollar return made by a cryptocurrency investor, a landmark moment for the controversial asset.

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