Known for Zuckerberg's rivalry twins become 1st bitcoin billionaires

Known for Zuckerberg's rivalry twins become 1st bitcoin billionaires

Cameron Winklevoss and Tyler Winklevoss - the twin brothers who claimed in 2006 that Facebook was their idea plagiarized by Mark Zuckerberg - have earned that distinction. Four years later, they invested $11 million of it to buy 1 percent of all now mined Bitcoins, according to reports.

Last week, the digital currency hit $11,395 to continue its drastic rise in value over the past few days.

The Winklevoss Twins, who became famous when they sued Facebook founder Mark Zuckerberg in 2004, are now officially Bitcoin billionaires as bitcoin trading surged over 10,000 percent during the final week of November.

Bitcoin reached another new high on Sunday, crossing the threshold of a $11,826.76 a coin for the first time.

The digital currency retraced some of its gains on Sunday after hitting the peak.

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The Winklevii, as the two have been nicknamed, were early believers in bitcoin - and the large purchase of the cryptocurrency allowed them to control almost 1 percent of bitcoins. The Telegraph noted that the Winklevoss twins have been long-term Bitcoin bulls.

The astonishing rise of Winklevoss twins comes on the back of astronomical rise of Bitcoins. A likely candidate: the mysterious father of bitcoin, known as Satoshi Nakamoto, who was the first to mine bitcoin at a time when it was far easier to unlock the cryptocurrency. They've spent much of the last two years attempting to launch their own bitcoin exchange, a dream that was dashed by the Security and Exchange Commission this spring in its latest regulatory hurdle.

There is also a steady increase in interest from institutional investors. On Gemini, people could swap dollars and other cryptocurrencies for Bitcoins and vice versa.

Bitcoin has attracted interest from both ordinary investors and institutions. So yeah, looks like virtual currencies are here to stay.

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