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- Winklevoss twins are huge players in Bitcoin with investments over and above $1.5 billion in Bitcoin itself
- They believe Bitcoin is a safe bet against inflation that should have a market capitalization greater than gold
- Bitcoin is viewed as a long term investment tool as they continue to remain its pioneers in the long term
It is very rare to see twins entering the crypto space and have a fan following around them. However, the Winklevoss twins have more than just made their presence felt. They were even portrayed in the movie The Social Network claiming Mark Zuckerberg had stolen their idea of Facebook.
The Olympic rowers are purportedly holding 1% of Bitcoin in supply making them worth $1 billion just from cryptocurrency investment. They have their own cryptocurrency exchange named Gemini and strongly believe that Bitcoin’s price will rise tenfold.
Winklevoss twins have a profound Bitcoin liking
Cameron and Tyler Winklevoss love Bitcoin as much as they love rowing. Latest reports suggest that their Bitcoin fortune is above $6 billion as they continue to remain bullish about it. The duo even have a fund that has funded more than 100 startups and projects in the country. Their portfolio includes more than 20 crypto based investments.
In late 2013, they announced that they own $11 million in Bitcoin. If rumours are to be believed, the twins are in the trade when the price was around $10. After exiting from the first American Bitcoin exchange, BitInstant, they formed Gemini in 2014. They have investments in BlockFi, crypto credit cards and NFTs.
An estimate suggests that they own 70000 Bitcoin and other digital assets for the long term. The Winklevoss twins have reiterated the fact that Bitcoin has a long term prospect and should be traded carefully.
Safe bets placed on these trends
They are long term players in the crypto space and are currently all in on Bitcoin. They have invested in BitClout which is an amalgamation of social media and cryptocurrency. Moreover, investments in Protocol Labs have made them pioneers in the crypto space.
Winklevoss twins turned billionaires late last year and also exclaimed in August that Bitcoin price is poised to touch $500,000. Bitcoin is disruptive and hence should have a higher market value than gold. The market capitalization of gold is $10 trillion while Bitcoin languishes around $1 trillion.
The duo have placed safe bets on numerous trends and believe that Bitcoin will change the way the financial system functions. At the Bitcoin Conference they confirmed of being HODlers until the $500,000 mark.
Foray into UK via Gemini
Winklevoss twins’ Gemini Trust Company LLC received an electronic money license from the FCA in the UK. It grants them permission to work in the country and expand their business overseas. London is the birthplace of modern day finance and it cannot be a better place to start their journey.
Lastly, focus has been placed on Bitcoin’s nature as a safe bet against inflation. During the pandemic, cryptocurrency was the only asset class that received a huge influx of investors as inflation continued to rise in the United States of America.
Hence, investors including the Winklevoss twins believe that Bitcoin is a store of value and will cross gold within this decade itself. The crypto exchange run by the twins is currently placed 67th in the list of exchanges.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
