Cryptocurrency Finance

Winklevoss bros are first verified bitcoin billonaires

Coinbase briefly adds Bitcoin Cash to its API

Cameron and Tyler Winklevoss brothers are said to be the first verified bitcoin billionaires with the two holding an estimated 100,000 bitcoins.

Back in 2013 when bitcoin wasn’t a major thing, the duo spend $11 billion to amass 100,000 bitcoins and if they indeed have that many bitcoins at the moment, at $11,700 their bitcoin valuation stands at $1.12 billion.

The Winklevoss Twins have been, for years, emphasizing their belief in bitcoin with Tyler at the forefront reiterating bitcoin as a store of value. Tyler has time and again said that bitcoin is a better version of gold. The twins have allocated a significant portion of their resources and capital in providing a better infrastructure for the bitcoin market, specifically for investors in the traditional finance market.

One of the most successful projects of the Winklevoss Twins is Gemini, a leading and well-regulated US-based bitcoin exchange, which has served the US market with its sophisticated and professional trading platform.

Earlier this year, Gemini entered into a strategic partnership with the Chicago Board Options Exchange, the largest US options exchange with an annual trading volume of 1.27 billion contracts, to list bitcoin futures. CBOE revealed on December 4 that it has received the approval from the US Commodities and Futures Trading Commission (CFTC) and will enable bitcoin futures trading on December 10.

In August, Tyler Winklevoss stated that Gemini and his partners are focused on providing liquidity and a trading platform for institutional and retail investors.

The listing of bitcoin futures by CBOE through Gemini’s bitcoin exchange will drastically increase bitcoin’s liquidity in the mid-term, as tens of billions of dollars in institutional money flow into the bitcoin market.

Major bitcoin ‘hodlers’ have time and again stressed that investors should invest in bitcoin with an amount proportional to their understanding of bitcoin.

In 2013, the Winklevoss Twins invested $11 million in bitcoin, which was then an immature market, because of their belief in that bitcoin could compete with traditional assets like gold and reserve currencies in the long-term.

About the author

Marjory Lewis

Marjory Lewis

Having studied pharmacology, Marjory understands both the medical and business angle of the health industry. She now helps the rest of us understand these delicate issues through her contributions as a medical science blogger.