The famous brothers, who accused Mark Zuckerberg of having stolen the idea of Facebook, opt for the virtual currency
The collective frenzy of virtual currencies has just created two new fortunes: the Winklevoss brothers. The twins were already known in the world of technology for the legal battle they fought with Mark Zuckerberg over the original idea of the social network Facebook. If the Bitcoin cryptocurrency holds its value, Tyler and Cameron will become full members of Forbes’ exclusive billionaire club.
Bitcoin does not stop marking one record after another. This Wednesday started the day changing for the first time over 12,000 dollars (about 10,170 euros). The rise of value defies the laws of gravity. He started the year under $ 1,000 and just a week ago he was steadily going over $ 11,000, which helps to understand the meteoric rise of something that few understand.
The Winkelevoss, on a street in New York.
The Winkelevoss, on a street in New York. CORDON PRESS
The 36-year-old Winklevoss have long expressed their love for Bitcoin in public, when the cryptocurrency was more of an instrument of change to do business in the darkest corners of the Internet. They understand that cash has days counted. Moreover, the two entrepreneurs challenged the skeptics predicting that one day would become an asset as precious as gold or more.
These young people of almost two meters, Olympic finalists rowing in Beijing 2008, inspired the plot of The Social Network, David Fincher’s film in which the story about the creation of Facebook is told. The twins accused Mark Zuckerberg of stealing the idea from their website, ConnectU, when the three were studying at Harvard. The confrontation was resolved with a payment in cash and shares. Those titles were worth 228 million when Facebook debuted on Wall Street five years ago, twice as much as they claimed Zuckerberg as compensation. The actions of the social network, by the way, are worth almost five times more. The money that the Winklevoss raised was placed in a fund they use to place their bets and they have their own tool to follow the value of Bitcoin, Winkdek.
They also created an exchange rate, known as Gemini, and which is now used as a reference. The Winkelevii – as they are also known – invested a total of 11 million dollars in Bitcoin. They say they did not sell one of the 90,000 coins they bought. But in order to reach Zuckerberg’s fortune, his portfolio of virtual currencies should appreciate 73 billion. That assuming that its value does not collapse. At the moment, his prediction has not only been fulfilled, but it is crushing the precious metal, which was worth 10 times less on Wednesday. His vision is thus bringing massive returns and is also serving the Winklevoss to claim victory against those who turned their back on them after losing the legal battle over the creation of Facebook.
And what can be done with a billion? To start, pay yourself a ticket with Virgin Galactic to go to space. They are astronauts 700 and 701. It was their way, in addition, to put a first seed of $ 250,000 in support of a new technology in which they have also put their hopes. As Tyler says, it can forever change the way you travel like Bitcoin with transactions.
When they made their prediction two years ago, the Bitcoin was worth $ 265. Its value had plummeted by 60%. Tyler and Cameron insisted during a presentation to investors that it was a clear buying opportunity, although they admitted that the currency would need some help. They dominated the doubts about their safety and, being new, they admitted that it was at the expense of unpredictable turns.
Bitcoin, in fact, is not a safe investment. To begin with, because even the most experts do not understand this madness since the summer. There are many who from Wall Street, like Warren Buffett, the most reputable investor in the stock exchange, warn that we are facing a bubble that is about to burst. The prestigious economist Joseph Stiglitz also lights the alarm.