How Facebook made the Winkevoss twins Bitcoin BILLIONARES!

A souvenir coin of the bitcoin

Cameron and Tyler Winklevoss - the identical twins who successfully sued Mark Zuckerberg for stealing their concept for Facebook in 2009 and received a settlement amount of $65 million - are now the world's first Bitcoin billionaires.

Bitcoin hit $11,395 last week, capping a boom that started a year ago and accelerated dramatically in recent days, despite a chorus of warnings about its threat to financial stability and potential for criminal exploitation.

Yesterday, bitcoin hovered close to an all-time high of US$11,800 set on Sunday after the USA derivatives regulator allowed CME Group and CBOE Global Markets to list bitcoin futures.

Former Olympic rowers Cameron and Tyler Winklevoss disclosed in 2013 that they owned $11 million worth of bitcoin.

If the Winklevii bought in at $120, which is entirely possible given the trading range, they would have gotten roughly 91,666 bitcoins.

The Winklevoss twins now have an undisputed achievement to their name.

The digital currency retraced some of its gains Sunday after hitting the peak. They later also spent nearly $1 million to buy more bitcoin later in 2013, right after Silk Road, an illicit marketplace on the so-called dark web, was seized by the Federal Bureau of Investigation.

Bitcoin's rise comes amid continued interest in the digital currency from both ordinary investors and institutions. The Telegraph noted that the Winklevoss twins have been long-term Bitcoin bulls. The pair launched a business called Gemini in October 2015, one of the first regulated and licensed digital currency exchanges.

There is also a steady increase in interest from institutional investors. Last week it emerged that exchange operator Nasdaq could follow rival CME Group in launching bitcoin future contracts next year, a sign that professional investors are increasingly taking the asset seriously. At today's price of $11,200, 100,000 bitcoins are worth $1.12 billion.

Whether this will affect how the coin is traded remains to be seen.

What the Winklevii is are two people now holding just over $1 billion worth of bitcoin, and that's fantastic.

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