What is the net worth of Winklevoss twins? Tyler and Cameron say Bitcoin will soar to $500,000, ‘unseat gold’
While the early investments into Bitcoins have contributed to their wealth, the seven-figure settlement with Facebook's Mark Zuckerberg further added to it
Two most successful Bitcoin holders in the world and twin brothers Tyler and Cameron Winklevoss told on Monday, November 30, that Bitcoin has the potential to “unseat gold” talking about the future of the cryptocurrency. Cameron shared a tweet in which he wrote that “No other liquid asset in the universe can credibly offer this magnitude of asymmetric payoff in the next decade” unlike Bitcoin.
#Bitcoin is an emergent store of value that defends against inflation and has the potential to unseat gold. This means it could appreciate 25x in value from $19K. No other liquid asset in the universe can credibly offer this magnitude of asymmetric payoff in the next decade.— Cameron Winklevoss (@cameron) November 30, 2020
The twins appeared on CNBC for an interview, during which Tyler said, "Our thesis is that Bitcoin is gold 2.0, that it will disrupt gold, and if it does that, it has to have a market cap of 9 trillion, so we think it could price one day at $500,000 of Bitcoin." "So at $18,000 Bitcoin, it's a hold or at least if you don't have any, it's a buy opportunity because we think there's a 25x from here," Tyler added. Bitcoin touched an all-time peak of $19,865.15 by rebounding on Monday after dropping more than 8 percent on Friday, November 27.
With cryptocurrency's value soaring, what's the Winklevoss twins' net worth?
The twins hold up to 1% of the whole supply of circulating Bitcoin, according to reports. According to Celebrity Net Worth, their combined net worth is up to $2 billion. While the early investments into Bitcoins have contributed to their wealth, the seven-figure settlement with Facebook's Mark Zuckerberg further added to it.
The twins first rose to prominence when they filed a legal suit against Mark Zuckerberg claiming he "stole" their idea to create a social networking platform. Cameron and Tyler reportedly founded ConnectU in 2004, to connect Harvard alumni and students from other universities. The twins received $65 million in the settlement with Facebook in form of shares and cash. When Facebook went public in 2012, the value of their shares is said to have gone up to $300 million. They invested in Bitcoins using the cash and stocks from the lengthy legal battle with Facebook.
In April 2013, the Winklevoss twins held $11 million in bitcoin priced at $120 a coin, which grew up to over $1 billion by December 2017. The New York Times reported that the value of the bitcoin holding was around $1.3 billion, with $350 million in other cryptocurrencies such as Ethereum and Gemini. In 2012, Tyler and Cameron together purchased a modern mansion in Los Angeles for $18 million. The residence reportedly stretches across 8,000 square feet and has five bedrooms along with a "state-of-the-art" media room and car garage to accommodate six cars.
Cameron and Tyler Winklevoss competed in the men's rowing event at the 2008 Beijing Olympics and came sixth. David Fincher's 2010 movie 'The Social Network' is based on the book 'The Accidental Billionaires' has characters based on real-life brothers. The twins were also featured in an episode of 'The Simpsons' titled 'The D'oh-cial Network'.