The first Bitcoin billionaires gained their initial fortune after suing Mark Zuckerberg and winning a $65 million legal settlement.
The Winklevoss twins, Cameron and Tyler, are well-known figures in the world of cryptocurrency. They are recognized as the world’s first Bitcoin billionaires.
Their journey to great wealth started with a lawsuit against Mark Zuckerberg, the founder of Facebook. This legal battle changed their lives and led them to invest in Bitcoin.
The lawsuit against Mark Zuckerberg
In the early 2000s, the Winklevoss twins created a social networking site called ConnectU.
They believed that Mark Zuckerberg had stolen their idea to create Facebook. This led to a significant legal dispute.
The twins claimed that Zuckerberg had broken an oral contract they had made with him.
After a long legal battle, they settled and received $65 million in Facebook stock as compensation.
World’s first Bitcoin billionaires built their fortune after winning $65M lawsuit against Mark Zuckerberg
With their newfound wealth, the Winklevoss twins decided to take a risk. In March 2013, they invested about $11 million into Bitcoin.
At that time, Bitcoin was still considered a new and uncertain investment. They purchased around 100,000 coins at roughly $120 each. Many people laughed at their decision, thinking it would not pay off.
Over the years, Bitcoin’s value skyrocketed. The cryptocurrency became the most valuable of its kind in the market.
In recent events, it broke a significant milestone, reaching over $100,000 per coin. This increase in value has made the Winklevoss twins extremely wealthy.
Had the twins held onto every Bitcoin they bought, their fortune could have been over $9 billion. However, they still have a substantial amount of wealth today.
Current estimates suggest that they are holding around $1.18 billion in Bitcoin. This makes them some of the richest Bitcoin owners in the world.
How do they compare to Zuckerberg?
Despite their immense wealth, the Winklevoss twins are still behind Mark Zuckerberg.
As of now, Zuckerberg’s net worth is around $226 billion. He remains one of the richest people globally. However, the Winklevoss twins often reflect on how their lawsuit against him set them on their current path.
“I doubt they’re that bothered though, as it was Zuckerberg himself that put them in the position they are today.”
The story of the Winklevoss twins is an inspiring one for many investors. They took a risk on a new technology and proved the doubters wrong.
Their success in Bitcoin shows how important it is to believe in your investments.
The rise of cryptocurrency has changed the landscape of finance, and the twins have played a significant role in that change.
As Bitcoin continues to grow in value, the Winklevoss twins remain optimistic about its future. They believe that cryptocurrency will become even more mainstream.
The twins are also involved in promoting Bitcoin and educating others about its potential benefits.
Their journey from a lawsuit to billionaires is a remarkable tale of resilience and innovation.