2020-11-08 08:00:00

Winklevoss brothers become crypto billionaires

Tyler and Cameron Winklevoss, the co-founder of a leading American crypto exchange now billionaires, thanks to the price surge of Bitcoin.

The brothers had earlier bought $11 million worth of Bitcoins in 2013, according to the New York Times, and soon became crypto-evangelists, building crypto exchange Gemini Trust Co.

The 39-year-old brothers, who gained fame following the release of the 2010 movie, “The Social Network,” briefly became billionaires in 2017 when Bitcoin soared to a record before plunging to record lows.

In a report credited to Bloomberg, each of the twins is now estimated to be worth about $1 billion.

What you should know

  • At the timing of writing this report Bitcoin price traded at $15,029.58 with a 24-daily trading volume of $30.2 Billion.
  • BTC price is down -3.5% in the last 24 hours. It has a circulating supply of 19 million coins and a max supply of 21 Million coins.

What to expect

Nairametrics believes the flagship crypto valuation might certainly rise in the high global quantitative easing program, which is a matter of time before it propels Bitcoin prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss.

The Fed continues to set the stage for bitcoin’s next bull run,” Winklevoss said in a July 22 tweet, which included an article link on the government agency’s discussions of further stimulus spending.

What they are saying

According to Winklevoss, there’s never been a better time to buy bitcoins than now that the government is involved in stimulus packages that are intended to pump money into the system.

In an August essay, the Winklevoss brothers elaborated on why they expect Bitcoin’s price to reach $500,000.

“Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or Bitcoin will outrun the scourge. And money stored in Bitcoin will run the fastest, overtaking gold,” they said.

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