The Winklevoss twins have lost $443 million each as the result of a fall in the value of cryptocurrency, having lost the status of bitcoin billionaires.
We will remind as Cameron and Tyler Winklevoss have become bitcoin billionaires. In 2008, the brothers sued Mark Zuckerberg for stealing the idea of creating a social network Facebook. Then they managed to seize $65 million of this amount, the twins have spent on buying 120 000 bitcoins in March 2013. At that time 1 BTC was worth only $120.
Over the years the bitcoin has soared by almost 10,000%. We will remind, in December 2017, the price of the cryptocurrency reached $20 000. The growth rate allowed the twins to become the first official bitcoin-billionaires in the world. Their investment of $11 million has brought them over $1 billion.
However, the volatility of bitcoin over the last month hit hard as Winklevosses. The cryptocurrency has experienced another drop. At the time of publication was trading BTC at $10 000.
According to Bloomberg, each of them lost about $443 million as a result, their state has approximately $739 million and Now they are not included in the index of billionaires from Bloomberg.
But 37-year-old brothers are not too concerned about this. They say they plan to hold the cryptocurrency in the long term.
“We have never sold a bitcoin, that attachment a long time.”
Tyler supported his brother and added:
“We also believe that bitcoin is arguably one of the best investments in the world and it will remain so in the subsequent many years. But if we’re wrong, it’s better to be disappointed than to live with regret”.
He believes that bitcoin could be worth trillions of dollars, and become “the best version of gold.”
According to the New York Times, Cameron and Tyler invested $350 million and other cryptocurrencies, including Ethereum. Other brothers launched in 2015 cryptocurrency exchange, Gemini, which became one of their most successful projects.