bitcoin billionaires

‘Better Than Gold’: Says the First Bitcoin Billionaires

This week will be known throughout history as the first time bitcoin has turned an investor into a billionaire.

Cameron and Tyler Winklevoss, the twins who claimed that Mark Zuckerberg stole their idea for Facebook, are the first bitcoin billionaires.

In 2009, the two famously sued Zuckerberg and received a settlement of US$65 million — which they then used a portion of to invest in bitcoin.

The two brothers spent US$14 million back in 2013 on bitcoin, which totalled 1% of all bitcoin in circulation at the time.

According to the Financial Times, the duo see bitcoin as the missing piece to the digital economy which will soon change the way transactions are made.

The two first learned about bitcoin back in 2012. Since then, the 36-year-old’s investment has increased by 10,000%, which is why they believe that this cryptocurrency is ‘better than gold.

In 2015, the brothers also launched their own digital currency marketplace called Gemini, which allows investors to buy, sell and store bitcoin.

 We see Bitcoin as potentially the greatest social network of all,’ said Tyler in 2016.

Recently, bitcoin broke the US$10,000 barrier. However, financial experts are still speculating that this is nothing bat a fad, with the headline ‘Bitcoin is a Bubble’ flooding the internet.

Yet the two bitcoin billionaires clearly disagree.

I remember when people said Facebook was a fad,’ Tyler told the Financial Times.

We saw this movie play out already with Facebook. We feel like we’re in the same movie again, just with a different cast of characters.’

Despite the speculation and constant negative outlook on bitcoin, there are still many who agree with the Winklevoss’. Many other experts are also confident that bitcoin could reach between US$40,000 and US$110,000 a share by 2020.

Peter Tseros

Peter Tseros

Peter Tseros is a writer here at The Australian Tribune, where he focuses on key issues in Australian politics. He has a Bachelor of Journalism, as well as his masters in Media and Communications both at Swinburne University of Technology in Melbourne.

In addition, Peter spent two years working as a journalist for publications in India and the US, before he moved to radio where he spent three years at some of Australia’s leading networks, which include 3AW and 1116 SEN.

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