The Winklevoss Twins: From Facebook to Bitcoin Billionaires #shorts

17 Mar 2023 · 1 min

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In this short commentary, The Art of Crypto highlights how the Winklevoss twins, famous for their early involvement with Facebook, were early adopters of Bitcoin. In 2013 they used $11 million from their Facebook lawsuit settlement to buy roughly 1 % of all Bitcoin then in circulation, a time when Bitcoin was still cheap enough that a pizza could cost 10,000 BTC. That purchase made them among the largest Bitcoin holders, and they are still reported to own about 70,000 BTC, valued at roughly $1.5 billion at the time of the video. The twins have leveraged that wealth to launch Gemini, a regulated cryptocurrency exchange, and the Winklevoss Bitcoin Trust, aimed at bringing Bitcoin to institutional investors. The narrator frames the twins as a positive force for mainstream crypto adoption and ends with a call to follow for more content.

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Let's be real, in the early days of Bitcoin, the potential of the cryptocurrency market was largely overlooked. However, the Winklevoss twins, well known for their involvement in the creation of Facebook, were quick to recognize its value. In 2013, the twins invested $11 million of their Facebook lawsuit settlement to purchase 1% of all Bitcoin in circulation, which was insane because back in those days, people were buying pizzas for 10,000 Bitcoins apiece. This led to them becoming some of the largest Bitcoin holders in the world, and to date, they still hold about 70,000 Bitcoins, which is worth about $1.5 billion at the time. Like them or hate them, we cannot deny that they're a positive force for crypto mainstream adoption. They've since used their newfound wealth to create Gemini, a regulated cryptocurrency exchange that has become a major player in the industry, as well as the Winklevoss Bitcoin Trust, which aims to bring Bitcoin to institutional investors. Follow for more.