The Winklevoss twins worth $3bn Each for buying Bitcoin @ $8 with confidence

[Zilon]

Indeed Bitcoin has made so many whopping rich and has added a whole lot to the Forbes of our time. The digital currency, Bitcoin that was trading a little below $100 as at 2013 is currently above $60,000 and we are actually expecting a $100,000 spike before the end of 2021.

Many took hold of this opportunity and made their first purchase of Bitcoin, while some gave up on the digital currency and sold out their assets some went as far as purchasing in large quantities and held on to their coin thereby believing on the project.

During this period two identical twins who are listed currently on the Forbes Billionaire List amongst the newcomers who reached a billion-dollar status due to their Bitcoin investing, took hold of a golden opportunity and made a purchase of $10bn worth of Bitcoin at $8 per Bitcoin way back 2012.

Cameron and Tyler Winklevoss are currently worth $3bn each. For purchasing a crypto asset worth $8, making them one of the biggest and earliest investors in cryptocurrency. I would say their gamble paid off and today, they are worth a collective $6bn.

The Winklevoss twins are not slowing down, they are instead, making further investments in cryptocurrency. Recently, they invested in a Bitcoin lending start-up named Block-Fi which is now valued at $3bn.

The Winklevoss twins are no strangers in Silicon Valley. They were Mark Zuckerberg’s classmates at Harvard and they once accused the tech billionaire of stealing their idea for Facebook.

A bitter legal battle between the two ended in the twins receiving significant cash and Facebook stock compensation from Zuckerberg. Some of their cash compensation was invested in cryptocurrency and it has indeed, paid off.

In their early days, cryptocurrencies witnessed an unstable growth path, rising and falling occasionally. This discouraged many people from investing heavily in it. The Winklevoss twins took the risk on Bitcoin and are now billionaires on Forbes list. Currently, they run their company, Gemini, a regulated cryptocurrency exchange, wallet and custodian that makes it simple and secure to buy Bitcoin, Ethereum and other cryptocurrencies




https://nairametrics.com/2021/04/09/meet-the-billionaire-twins-who-bought-10m-worth-of-bitcoin-when-it-still-sold-for%E2%80%AF8/

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[goldade]

This is a very perfect example of how buying and hodling bitcoin can make one rich. I came across a thread on this forum recently where the OPs argument was that bitcoin was not made to make one rich. While he may be right, I strongly believe that those who got rich by it didn't do anything wrong.
It is noteworthy to know that these guys bought when it was as low as $8 and hodl till it is over $60k. One cannot but wonder why didn't they sell earlier. Of course, they'd have made quite a lot of profits too.

[The Sceptical Chymist]

Yeah, well they were smart and rich from the get-go and were always looking for the next big thing.  They had enough money to sink into bitcoin without worrying about whether they were overinvesting or if they'd need that money to pay the bills next month--which is a lot different from the average person out there in the world, especially back in the early days when the economy was in the shitter and unemployment was soaring.  I don't begrudge them their success at all, and I'm glad they're so into bitcoin, but they aren't exactly a rags-to-riches story.

But man, if I'd only known about bitcoin when it was created (and understood the nature of it; that took a while for me).  I might not be nearly as wealthy as a single Winklevoss twin, but I'd be rich enough to satisfy myself.  Ah well, it wasn't to be.  But I'd still love to try out Gemini, except I think they require a wire transfer of funds and that's a pain in the ass.  Not sure why they don't make it easier to fund a Gemini account.

[hatshepsut93]

This is a very perfect example of how buying and hodling bitcoin can make one rich. I came across a thread on this forum recently where the OPs argument was that bitcoin was not made to make one rich. While he may be right, I strongly believe that those who got rich by it didn't do anything wrong.

Assuming they still hodl their BTC @ $8, that's a 7,500 times increase in price. If you bought BTC today, it would need to go to 450 million to match the performance seen by Winklevoss twins.

I think it's safe to predict that in the future, Bitcoin bull runs will be smaller in their magnitude, so it's no longer possible to become rich by investing small sum in Bitcoin for a decade.

[fiulpro]

That aside , if there was a person who did not sell them during the first high time back in 18-19 that person also would have made a lot. Even considering few months back ! The drastic change in price is something that not only the early adopters but even the late adopters can be benefited from.
On analyzing the price chart you would realize how it is not a thing to be sad about. Yes we did miss the opportunity of buying when bitcoins was introduced but even right now one can try doing Interday trading. For example:
On 25th march the price was 51325 $, then today we have 60450$ , now if a person was indeed vigilant of the price and also had money to invest they would have been earned 9125$ in just 18 days !! It is indeed a perfect opportunity for everyone even if it was the past or the present.
One can track the price and buy again if it does lower than today's price with a considerable range. It will take a lot of time and active participation in the market but at the end of the day its all worth it.

[Kittygalore]

Yeah, well they were smart and rich from the get-go and were always looking for the next big thing.  They had enough money to sink into bitcoin without worrying about whether they were overinvesting or if they'd need that money to pay the bills next month--which is a lot different from the average person out there in the world, especially back in the early days when the economy was in the shitter and unemployment was soaring.  I don't begrudge them their success at all, and I'm glad they're so into bitcoin, but they aren't exactly a rags-to-riches story.

But man, if I'd only known about bitcoin when it was created (and understood the nature of it; that took a while for me).  I might not be nearly as wealthy as a single Winklevoss twin, but I'd be rich enough to satisfy myself.  Ah well, it wasn't to be.  But I'd still love to try out Gemini, except I think they require a wire transfer of funds and that's a pain in the ass.  Not sure why they don't make it easier to fund a Gemini account.

Exactly, that is the big difference, don't be deceived by the fact that they had bought bitcoin back then, they are not exactly the right model that we have to follow because as @The Pharmacist, they have the money from the start so they can afford to do risk.

[SaiyanSS3]

That’s massive of coins to get for $10m, I can’t imagine they both have so much coins at $8 each, insane!

[bekti3]

Famous people already know the potential of bitcoin, so it's a shame if there are still people out there who doubt bitcoin for the future. With the example of the OP, making us even more confident that the presence of bitcoin has changed the narrow space in economic growth to be wide open.

[hugeblack]

Cameron and Tyler Winklevoss are currently worth $3bn each. For purchasing a crypto asset worth $8, making them one of the biggest and earliest investors in cryptocurrency. I would say their gamble paid off and today, they are worth a collective $6bn.

The Winklevoss twins are not slowing down, they are instead, making further investments in cryptocurrency. Recently, they invested in a Bitcoin lending start-up named Block-Fi which is now valued at $3bn.

Does any of you have accurate data about the amount of currencies that they have purchased? The numbers seem illogical, as investing $ 3 billion in Bitcoin in 2012 will enable you to buy a large portion of the market capacity, which does not seem to have increased to several hundreds of billions, not $ 3 billion.
The story does not represent a success story, but rather faith and it differs according to different people and the money that they invested. Some may invest $ 1,000 in bitcoin, representing everything they own, and others consider that amount trivial to be tried in something new.

[Zilon]

Does any of you have accurate data about the amount of currencies that they have purchased?

Information is assessable you can cross check this information from other sites.
You can check up the following Link

https://www.google.com/url?q=https://www.bostonmagazine.com/arts-entertainment/2019/05/29/winklevoss-twins/&sa=U&ved=2ahUKEwj65tW8mvnvAhW5A2MBHd79CIcQFjAAegQIChAB&usg=AOvVaw28T7jTq4pvIqHFqa2X7uSo

https://www.google.com/url?q=https://www.bloomberg.com/news/articles/2020-11-06/winklevoss-twins-ride-bitcoin-surge-to-become-billionaires-again&sa=U&ved=2ahUKEwj65tW8mvnvAhW5A2MBHd79CIcQFjALegQICBAB&usg=AOvVaw1lsQUAioGb8bOye-2IAhbL

[Renampun]

...

what I applaud them is they were not afraid to spend a lot of money at a time when Bitcoin was not very popular...
they are amazing twins, one thinking and like being able to read the future. if they didn't buy Bitcoin then their name wouldn't be as big as it is now. the value of their current assets is extraordinary.

[Fortify]

You have to congratulate them on taking the chance at such an early stage of development and it benefited all Bitcoin holders when they bought in. Not sure why people need that much money though, hope they invest it in good causes instead of chasing ever higher bank account balances. I never knew that they were involved with Mark Zuckerberg, anyone who is able to take some of his money away is definitely good in my book.

[Rruchi man]

Only a few are really crazy enough to dare. Regardless of the fact that they had to be rich to have $10m to gamble with as at 2012 (that is buy an asset they were not sure of), they are true visionaries and the true definition of investors and they have to be applauded for that. Many during that period who were exposed to information and had same opportunity as the twins, maybe even in a better financial position did not consider it an option to invest so much as $10m into.

The risk takers in society, are really the ones that make it big. Sometimes playing safe and thinking through investment opportunities is wise, but when one plays it too safe and overthinks some investment opportunities, he or she may never make it big.

[tabas]

That’s massive of coins to get for $10m, I can’t imagine they both have so much coins at $8 each, insane!

They've believed on bitcoin when they knew it. And how we wish that we've known bitcoin back in the past when most of us do nothing and were busy to things like playing games or not learning something new with the technology. Congratulations to them, they came from FB to BTC.

[milewilda]

That’s massive of coins to get for $10m, I can’t imagine they both have so much coins at $8 each, insane!

They've believed on bitcoin when they knew it. And how we wish that we've known bitcoin back in the past when most of us do nothing and were busy to things like playing games or not learning something new with the technology. Congratulations to them, they came from FB to BTC.

We dont know on what future ahead on something that we are dealing on the present.Its up to someone who would see its actual relevance and potential which made them to make out such step on buying
bitcoin when its still cheap.This is the opportunity or the result that bitcoin could give if you do believe when its just starting.Thing here is that those twins are rich enough to buy millions of worth
and its just normal that they would reach up billions in profits because of the increase of this market.Its not really that needing some serious math on making computations.lol
Its just great to look on how things becomes favorable to them and amazing on how long they do able to held up and not making any sell-on.

[ene1980]

The The Winklevoss brothers were seed funding many business during that time period and it is said that they won an whopping $65 million behind the doors to settle the Facebook lawsuit they filed and they started a capital management company and was investing in multiple assets and promising companies and that is how they invested in bitcoin as well as they knew bitcoin is the future and that paid off big time.

[lixer]

Cameron and Tyler Winklevoss are currently worth $3bn each. For purchasing a crypto asset worth $8, making them one of the biggest and earliest investors in cryptocurrency. I would say their gamble paid off and today, they are worth a collective $6bn.

Damn these early investors are just becoming rich everyday as they keep on holding their coins and the price is going up. This is really nice , at this current price they are already billionaires, I am thinking what level they are going to reach when the price should get to the level that was being predicted by so many people.

We have seen people who have been predicting up to $100,000 and that one aside I  have also seen those who are predicting way more than that and some of them have predicted up to $300,000. Although sometimes I do doubt these people with their predictions , but anyway you got to believe them sometimes

[Darker45]

Such a great lesson about risk-taking and patience.

There are now new names of billionaires in the world because of crypto. But there must be many more of them who are unknown and unidentified due to its anonymity. That's in the macro level. 

In the micro level, there are a lot of people I personally know who have made a significant amount of wealth due to Bitcoin and cryptocurrency. I find it more interesting to know that houses were built, cars were bought, investments were made, travel wishes were turned into reality, and so on because they risked and bought Bitcoin during the earlier years, stayed steadfast, and survived through the worst of crypto winters.

[bryant.coleman]

I am slightly confused here. So they purchased $10 million worth of coins at $8 per coin. This itself is suspicious. Because if the purchase price was $8 per coin, then the total number of coins that were purchased amounts to BTC1,250,000. And the net worth of these coins, as per the current exchange rate would be $75 billion, and not $6 billion as mentioned in this article. It looks like the author doesn't know basic mathematics.

[Kong Hey Pakboy]

I am slightly confused here. So they purchased $10 million worth of coins at $8 per coin. This itself is suspicious. Because if the purchase price was $8 per coin, then the total number of coins that were purchased amounts to BTC1,250,000. And the net worth of these coins, as per the current exchange rate would be $75 billion, and not $6 billion as mentioned in this article. It looks like the author doesn't know basic mathematics.

Right, something doesn't add up with the numbers, this also means that they are worth more than what the media is saying because if what the media is saying isn't true which is probably most of the time then there is more than meets the eye, also do the twins split the bitcoin in half between the two of them?