Winklevoss Twins Lost Bitcoin-billionaires Status

When in 2013 bitcoin rate was a little bit less than 120 dollars, Winklevoss twins invested more than 11 million dollars in bitcoin, having bought around 100 000 bitcoins.

However, bitcoin volatility has seriously damaged Winklevoss capital this month. The cryptocurrency experienced another rate fall.

The rate diminished to 10 000 dollars, which George Kikvadze, the vice-chairman of Bitfury, called “a pschychological threshold”.Total Winklevoss capital experienced  a decrease of 443 million dollars. In two days Winklevoss twins stopped being bitcoin-billionaires and turned into bitcoin-millionaires.  

37-year-old brothers have no concerns about this situation. They said that they were going to keep cryptocurrency in a long-term perspective.

“We’ve never sold a bitcoin, we’re in it for the long haul,” – Cameron told CNN Money in 2015.

Tyler also told: “If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap. We do feel those are very real possibilities”.

According to New York Times, Cameron and Tyler invested 350 million dollars in other cryptocurrencies including Ethereum. Moreover, the brothers instituted a cryptocurrency exchange Gemini in 2015, which has already become one of their most successful projects.

 

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