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Winklevoss twins used Zuckerberg's payout to become world's first Bitcoin billionaires
05 December 2017, 02:22 | Gordon Grant
Cameron & Tyler Winklevoss a.k.a the Winklevi
The identical twins used some of that money (A$11 million) to invest in the controversial asset Bitcoin more than four years ago.
Brothers Cameron and Tyler Winklevoss, whom Mark Zuckerberg once promised to "f-k. probably in the ear" over their claim that they generated the idea for Facebook, and who were subsequently immortalized in The Social Network, have long dreamed of getting even with their former Harvard classmate.
The Winklevoss twins helped turn bitcoin into a $1 billion baby - so perhaps it's fitting that they also become one of bitcoin's first billionaires.
Their bet paid off hugely, with bitcoin having soared over 10,000 per cent after last week's price surge.
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Bitcoin bulls say that this same question has been asked every time Bitcoin has hit a new all-time high.
Bitcoin hit a record high on Sunday closing at $11,826.76.
Whilst the legitimacy of the digital currency continues to be debated, the Winklevoss twins were firm believers in taking a punt, telling the Telegraph in a past interview that it's "like a better version of gold", with the potential to reach the value of trillions. "Still, the twins" early comments about bitcoin appear to have been prescient. They've spent much of the last two years attempting to launch their own bitcoin exchange, a dream that was dashed by the Security and Exchange Commission this spring in its latest regulatory hurdle. Winklevoss's, however, are the first public figures to have made a billion out of the currency. "By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors", said Tyler. In 2014, Mt Gox, then the world's largest bitcoin exchange, went bankrupt after hackers had stolen $460 million from the firm's online systems.
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